17 October 2013 Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA"), in compliance with the Securities Market legislation, hereby communicates the following: RELEVANT INFORMATION BBVA reached today an agreement with CITIC Limited for the sale of 5.1% of its participation in the share capital of China CITIC Bank Limited ("CNCB") to for a total price of approximately 944 MM euros. This transaction is subject to the necessary authorizations. After the closing of this sale, the participation of BBVA in CNCB will be reduced to 9.9%. Simultaneously, BBVA and CNCB have agreed to adapt their strategic cooperation agreement to the new situation, removing the exclusivity obligations that affected the activities of BBVA in the PRC, and agreeing to discuss new areas of cooperation among both banks, as BBVA 's current intention is to remain a key long term investor in CNCB. The agreements affected will be finalized in due course. According to applicable accounting rules, this new situation implies a change in the criteria applied to the participation of BBVA in CNCB, which will become a non-significant financial participation, registered as "available for sale" triggering the following consequences: 1. An improvement in the group's core capital, amounting to approximately 2,400 MM Euros calculated under Basel III fully loaded requirements, which will increase this core capital ratio in approximately 72 basis points. 2. An extraordinary negative impact in the group's attributed net income for 2013, of approximately 2,300 MM Euros, triggered by the mark-to-market of the full participation in CNCB. This transaction allows the BBVA group an early adoption of the new capital requirements under Basel III, while maintaining its presence in the Chinese Market through its partnership with CITIC Group. Today at 9.30 (Madrid time) BBVA will present the transaction to the financial markets. Any interested party can follow the presentation via BBVA's web site on the Internet (http://shareholdersandinvestors.bbva.com). A recording of the presentation will be available on the above web site, for a period of at least one month. Madrid, October 17, 2013 This information is provided by RNS The company news service from the London Stock Exchange END MSCEASEXFSSDFEF
14 Aug '13
To hit €10.00
Jim Cramer on MadMoney last night on CNBC says this share will soon hit €10.00
1 Feb '13
The bank's core capital rose to 10.8% from 10.3% at the close of 2011. Additionally, BBVA announced that it reached an agreement to sell its 64.3% stake in the Chilean pension fund to MetLife for €1.521bn. By 10:05 in Madrid, shares were up 0.12% at €7.33.
1 Feb '13
BBVA has posted a fourth quarter profit that topped the consensus, turning around last year's loss even as it completed provision charges against real-estate assets. Spain's second-largest bank generated a €20m profit for the fourth quarter compared to a €139m loss last year when it took a €1bn goodwill charge at its US division. The consensus was expecting a €80.3m loss. BBVA posted a 2012 full-year profit of €1.67bn, a 44.2% drop from 2011, after it completed all the real-estate provisions required by the Spanish government. The Factset consensus of analysts was expecting a profit of €1.634bn. Excluding Unnim, which is being integrated into the bank, adjusted earnings totalled €4.406bn, only 2.2% less than in 2011. The full-year interest margin rose 15.0% to €15.122bn. On the other hand, the bad loan rate rose to 5.1% from 4.0%.
1 Nov '12
Analysts at Bankinter have reiterated a 'buy' rating for BBVA after the Spanish bank reported results that were in line with estimates on Wednesday. BBVA reported nine-month earnings of €1.656bn, a 47.3% decline from a year ago after including charges to comply with two-thirds of Spain's provisioning requirements. Analysts highlighted BBVA's solid results in Mexico and the US and praised the decision to maintain its dividend policy given the current situation. BBVA's core capital ratio remained unchanged at 10.8% although the bad loans ratio rose to 4.8% because of the integration of Unnim, of which only 4.3% was in constant terms. The credit portfolio fell by 6.1% over the last year while deposits rose 6.1% (+3.1% in the quarter). "The results seem to be on the favourable side and our preliminary opinion is positive, leading us to reiterate our rating," said Bankinter. Shares of BBVA were down 1.06% to €6.369 in early trading on Thursday in Madrid.
31 Oct '12
Technical analysis: Stock looks to attack resistance Technical analysts at Digital Look have taken a look at the Spanish stock, which they say has a bullish outlook since the breakout of the 200-day moving average in September. "Recent declines have come to an end before reaching the support level at €5.80, the last time the price has met with the 200-day moving average. Thursday's early gains lead us to consider an attack at the top part of the range in which the stock has been trading since September. £The breakout of €6.64 would give us a theoretical primary target of €7.60, which we get by adding the width of the range to €6.64. Such a move would also lead us to consider a long-term trend reversal," analysts explain. "High accumulation levels give consistency to the current bullish trend. This bullish bias will remain in play as long as the stock trades above €5.81, the October low. We advise to wait for the breakout before taking any positions."
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