BBVA posts 54 pct fall in Q1, misses forecasts
MADRID, April 28 (Reuters) - Spain's BBVA, the country's second-biggest lender, posted on Thursday a 54 percent fall in first quarter net profit from a year earlier, due to the lack of significant capital gains compared to the same period last year, and to the depreciation of currencies in emerging markets.
BBVA, which accounts for more than 40 percent of its earnings in Mexico, reported net profit of 709 million euros ($803.65 million), below analysts' forecasts of 844 million euros.
Net interest income, a measure of earnings on loans minus deposit costs, was 4.2 billion euros, up 13.3 percent from a year ago. ($1 = 0.8822 euros) (Reporting by Jesus Aguado; Writing by Paul Day)
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