UPDATE 2-BBVA upbeat on overseas revenue even as Spain lags

miércoles 30 de julio de 2014 07:02 GYT
 

* BBVA Q2 profit falls 39 pct year on year

* Revenue also falls, but less than expected

* Weaker Latin American currencies partly behind falls

* Spain's Popular post Q2 profit down 1.5 pct

* BBVA shares up, Popular flat (Adds analyst, CEO comment, shares, adds Popular results)

By Sarah White

MADRID, July 30 (Reuters) - Spain's BBVA posted a lower-than-expected drop in second-quarter lending revenue on Wednesday, helped by resilience in its biggest markets Mexico and improvements in other overseas markets such as Turkey.

BBVA, which makes most of its money outside its home market, said net interest income (NII), or earnings on loans minus deposit costs, fell just under 1 percent from a year ago to 3.65 billion euros ($4.9 billion). Overall revenues were also better than forecast in a Reuters poll.

"The majority of the beat comes from Eurasia, which is some comfort as we were concerned by the impact of Turkey," RBC Capital Markets analyst Robert Noble said in a note. BBVA has a 25 percent stake in Turkey's Garanti Bank, and the country was hit by political turmoil earlier this year.   Continuación...