whytestocks
4年前
BREAKING NEWS: $BBVA PNC Announces Agreement To Buy BBVA USA Bancshares, Inc.
PNC Announces Agreement To Buy BBVA USA Bancshares, Inc. Acquisition significantly accelerates PNC's national expansion strategy; creates nation's 5th largest bank by asset size PR Newswire PITTSBURGH, Nov. 16, 2020 PITTSBURGH , Nov. 16, 2020 /PRNewswire/...
In case you are interested BBVA - PNC Announces Agreement To Buy BBVA USA Bancshares, Inc.
mlkrborn
12年前
July 31, 2012, 3:00 a.m. EDT
BBVA net profit drops 58% as provisions soar
By Christopher Bjork
MarketWatch/Tim Rostan
A BBVA bank location in Madrid. The bank reported a sharp profit drop Tuesday as it had to set aside billions of euros to cover property-related losses.
MADRID--Banco Bilbao Vizcaya Argentaria SA (BBVA) Tuesday became the latest in a long list of Spanish banks to report that second-quarter earnings were dented by its need to set aside billions of euros to cover losses from the country’s deepening real-estate crisis.
The bank BBVA -10.40% ES:BBVA -4.58% , the country’s second-largest by assets, said net profit was 505 million euros ($620 million), down 58% compared with EUR1.19 billion in the same period a year earlier.
Net interest income, which was boosted by robust lending growth in Mexico and other Latin American countries, rose 16% to EUR3.74 billion, the bank said.
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Analysts were expecting profit at EUR643 million and net interest income of EUR3.64 billion, according to a Dow Jones Newswires survey of eight brokers.
Like its larger rival Banco Santander SA (SAN), BBVA benefits from the strength of its big network of branches in Latin American countries like Colombia and Peru to help pay for loan losses in Spain, where they contend with economic turmoil and the continued need to bolster their provisioning buffers.
Since the beginning of the year, the Spanish government twice raised the amount of provisions and capital banks must hold to cover property-related losses, an attempt to remove investor concerns about the hidden losses on bank balance sheets.
BBVA said it had set aside EUR1.43 billion in such provisions, roughly a third of the EUR4.64 billion the bank needs to set aside this year.
$UPERMAN
13年前
Mexican State Coahuila Refinances MXN34 Billion Debt To 20 Years
Date : 09/30/2011 @ 9:08PM
Source : Dow Jones News
Stock : Banco Bilbao Vizcaya Argentaria S.A. ADS (BBVA)
Quote : 8.13 -0.39 (-4.58%) @ 8:00PM
Mexican State Coahuila Refinances MXN34 Billion Debt To 20 Years
Banco Bilbao Vizcaya Argentaria Sa (NYSE:BBVA)
Today : Friday 30 September 2011
Mexican private-sector banks have reached an agreement to refinance 34 billion pesos ($2.45 billion) in debt owed by the northern state of Coahuila, which revealed in August that its debt obligations had ballooned well-beyond market assumptions.
Grupo Financiero Banorte SAB (GBOOY, GFNORTE.MX), one of Coahuila's creditors, issued a press release late Friday celebrating the deal as a step toward greater austerity and transparency on the part of Coahuila.
Coahuila surprised markets when it admitted in August that it owed MXN34 billion, four times more than the debt level it had previously divulged. About a third of that debt was due for payment in the near term.
The revelation prompted both Standard & Poor's and Fitch Ratings to slash Coahuila's local credit rating to triple-B-minus from single-A-plus.
Also in August, Deputy Finance Minister Gerardo Rodriguez alerted market participants that local governments had MXN50 billion in off-the-books debt that is not guaranteed by tax collections, and that about half of that debt belonged to Coahuila.
The statement issued Friday offered slim details on the new loan terms, apart from saying that Coahuila is expected to pay the credit back in 20 years and that it will also be charged refinancing costs.
The lenders have created a trust through which the payments will be issued, while also linking payments to a share of Coahuila's tax receipts from the federal government.
The refinancing deal implies a commitment to "discipline, transparency and accountability" on Coahuila's part, while also laying out ways the state can increase income and lower expenses, the statement said.
BBVA Bancomer, a unit of Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC) and Mexican financial group Multiva also participated in the refinancing pact.
-By Amy Guthrie, Dow Jones Newswires; (5255) 5980-5177; amy.guthrie@dowjones.com
mlkrborn
13年前
BBVA declined to $8 from $14 in a year. 0.60 dividend.. STD trading around same level.
STD and BBVA halted issuing new debt.
Spanish Banks Halt Debt Issues On Market Instability - Report
Last update: 9/7/2011 2:20:42 AM
MADRID (Dow Jones)--Spanish banks including Banco Santander SA (STD) and Banco Bilbao Vizcaya Argentaria SA (BBVA.MC) have decided to halt planned debt issues in coming days due to worsening market conditions, newspaper Cinco Dias reports, citing financial sources.
So far this year, Spanish banks have issued debt worth over EUR32 billion, with a EUR1 billion bond sale by Santander in May being the last deal, Cinco Dias adds.
Newspaper website: http://www.cincodias.com/articulo/mercados/banca-aparca-emisiones-deuda-temporal-mercados/20110906cdscdsmer_11/
-Madrid Bureau, Dow Jones Newswires; +34 91 395 8120; djmadrid@dowjones.com
(END) Dow Jones Newswires
September 07, 2011 02:20 ET (06:20 GMT)
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