UPDATE 2-BBVA doubles first-quarter profit on Mexico, one-off gains

miércoles 29 de abril de 2015 04:58 GYT

* BBVA profit up 146 pct y/y to 1.54 bln eur

* Boosted by CITIC stake sale, offsets Venezuela hit

* Revenue trends steady but analysts see margin pressure

* Shares fall 1 percent (Recasts with Venezuela troubles, adds analyst quote)

By Sarah White and Jesús Aguado

MADRID, April 29 (Reuters) - Net profit more than doubled at Spanish lender BBVA in the first quarter from a year ago, as growth in Mexico and one-off gains offset a hit from currency devaluation in Venezuela.

Like Spanish peer Santander, BBVA makes more than 80 percent of its profit overseas, a model that helped it to counter a double-dip recession at home in recent years.

Mexico contributed 44 percent to profit in the first quarter and helped drive a 7 percent rise in gross lending across the bank, Spain's second-biggest by market value.

While this put BBVA under less pressure than most domestic rivals to ramp up Spanish earnings, it also exposes its balance sheet to emerging markets volatility.   Continuación...