Bbva Ord Share Price (BVA)

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.

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%.

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.

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."

Spanish banking giant BBVA reported quarterly earnings that fell short of the consensus estimate as it continues to account for losses on real-estate assets. BBVA generated a third-quarter profit of €146m, short of the average €186.4m estimate in a Bloomberg survey of analysts. The lender reported nine-month net earnings of €1.656bn, a 47.3% drop from the year-ago period, after including two-thirds of provisioning charges needed to comply with government requirements.Operating income, which determines the bank's ability to set aside provisions, was €9bn for the first nine months, up 16.1% year-on-year. Net interest income rose by 16% to €11.22bn while the gross margin rose 13.6% to €17.103bn. Bad loans as a percentage of total lending was 4.8% in September, up from 4% in June, after incorporating Unnim to the group's results. The coverage rate rose to 69%. BBVA reported a core capital rate of 10.8%, unchanged from June, according to the current Basel regulation. The stress test conducted by consultancy group Oliver Wyman over the summer had concluded that BBVA would have a capital buffer of more than €11bn in a worst-case scenario.

23-Mar-09 14:45:37 6.27 65,000,000 0.00 0.00 4.076M