Banco Bilbao Vizcaya Argentaria SA
The Spanish lender reported fourth-quarter 2017 net attributable profit of €70 million, down from €678 million in the year-ago period.
EPS for the quarter dropped to zero cents from 9 cents a year earlier. The S&P Capital IQ consensus normalized EPS estimate for the quarter was 15 cents.
The result included a €1.12 billion charge linked to the decline in the stock price of Telefónica, in which BBVA has a stake of more than 5%. Excluding this item, attributable profit for the quarter reached €1.19 billion.
Fourth-quarter net interest income rose on a yearly basis to €4.56 billion from €4.39 billion, while net fees and commissions came in at €1.22 billion, compared to the year-ago €1.16 billion. Net trading income also increased, to €552 million from €379 million.
Net provisions declined to €180 million from €723 million a year earlier, while net impairment on financial assets rose year over year to €1.89 billion from €687 million. Other losses totaled €267 million, compared to the year-ago €284 million.
For full year 2017, attributable profit was €3.52 billion, a year-over-year rise from €3.48 billion. EPS for the year was 48 cents, compared to the year-ago 49 cents.
BBVA's nonperforming loans ratio stood at 4.4% as of the end of December 2017, down 47 basis points from a year earlier and the lowest since June 2012, according to the bank.
The group's fully loaded common equity Tier 1 ratio at 11.1% at 2017-end, compared to 10.9% at 2016-end. BBVA said the ratio is above its target. The bank's phased-in CET1 ratio was 11.7% at the end of 2017, compared to 12.2% at the end of 2016.
The bank will propose a 2017 final dividend of 15 cents per share, to be paid in April.
