BBVA's nine-month net profit up 86 percent to 3.1 billion euros

Reuters
A woman and her dog walk out of a BBVA bank branch in Madrid
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A woman and her dog walk out of a BBVA bank branch in Madrid July 31, 2013. REUTERS/Susana Vera

MADRID (Reuters) - BBVA (MCE:BBVA), Spain's second-biggest bank, on Friday posted a nine-month net profit of 3.1 billion euros (£2.64 billion), nearly double what it made in the same period a year ago but below analysts' expectations.

Like peers, BBVA has set less money aside to counter soured debts than in 2012, and a series of Latin American disposals earlier this year have also helped profits.

Analysts polled by Reuters had forecast it would make a nine-month net profit of 3.505 billion euros, though predictions had varied widely, distorted by estimations over one-off gains to be booked in the third quarter.

Nine-month net interest income fell 3.2 percent from a year ago to 10.85 billion euros, in line with forecasts.

(Reporting by Sarah White, Editing by Julien Toyer)

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