July 27, 2018 / 4:24 AM / a year ago

Spain's BBVA posts 18.3 pct rise in Q2 net profit y/y

MADRID, July 27 (Reuters) - Spain’s BBVA said on Friday its second-quarter net profit rose 18.3 percent against the same period last year as a solid underlying performance in Mexico and Turkey offset currency depreciation.

BBVA, Spain’s second largest bank, reported net profit of 1.31 billion euros ($1.53 billion) in the period April to June, above an average of analysts’ forecasts in a Reuters poll of 1.18 billion euros.

BBVA said the bank’s risk management and a portfolio mix with a high proportion of inflation-linked bonds had contained the impact of the Turkish lira depreciation on its capital ratio to a negative 1.9 basis points over the quarter. ($1 = 0.8584 euros) (Reporting By Jesús Aguado; Edited by Paul Day)

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