Property & Email Marketing: Login or Register Telephone Number Tel: (+34) 952 471 774 | UK Freephone UK Freephone: 0800 047 0597 | US Toll Free US Toll Free: +1-866 656 7152
IPIN Left IPIN Middle IPIN Right
Header Corner
Find Property in :

E.g. "Marbella" or "Manchester". Looking for more search options?


BBVA profits fall due to real estate provisions

Date : (News Section: Spain)

BBVA profits fall due to real estate provisions
Spanish bank BBVA is the latest financial institution in the country to report lower profits as a result of having to make greater provisions to cover potential losses on property assets.

Tuesday (July 31st) the bank reported its first-half net profit dropped by 57.5 per cent compared to the same period last year, AFP revealed. 

BBVA announced it has now set aside approximately one-third of the total amount required to protect it from any bad loans on real estate in Spain.

It has written off around €1.4 billion (£1.1 billion), although under new government legislation the financial institution needs to set aside a total of €4.64 billion by the end of 2012.

The organisation has also indicated that it will not require any of the funds provided by the eurozone to help Spain's struggling banks.

Santander has already reported a dip in first-half profits of just over 50 per cent, largely due to its provisions for real estate losses. Sabadell also recently posted much lower profits for the first six months of the year after putting €1.89 billion aside to cover toxic assets.

Article by +James Roberts on behalf of

Read More

  1. 18 September 2014 - Greenpeace Lose Fight to Demolish ‘Hotel Illegal’ Algarrobo
  2. 11 September 2014 - French Buyers Swamp Spain in Property Bargain Hunt
  3. 09 September 2014 - Rising Like a Phoenix from the Ashes
  4. 03 September 2014 - Visitors Flock to Spain in Bumper Year for Tourism
  5. 26 August 2014 - Bumper Year for Tourism Boosts Hotel Investment Sector

Let us search for you Let Us find Property in Spain for You

Fill out a requirements form and our experts will help you find a great selection of Properties for sale in Spain.

SubscribeGet Email Updates!


* We value your privacy and will never share your email address with anyone else.

Trade and Learn Forex
Distressed Property in Denia Featured Property
Denia (Alicante)
House/Villa - 2-Bed, 2-Bath
€398,000 - Find out more »

Subscribe to This Feed

RSS News
Subscribe to this RSS Feed
Country: Spain
Channel: All

More RSS FeedsGo

Media/Press SectionProperty News Search


News ArchivesNews Archives

View worldwide property news from as far back as 2005 in our News Archives Section.

View News ArchivesGo