BBVA Q2 Net Profit Down 58%

Banco Bilbao Vizcaya Argentaria SA

reported a 58% drop in its second-quarter net profit. BBVA's quarterly net profit declined to 505 million euros ($620 million), from EUR1.19 billion, in the year-ago period. Its net interest income surged 16% to EUR3.74 billion. Analysts were projecting a profit of EUR643 million and net interest income of EUR3.64 billion. BBVA shares closed at $6.56 yesterday.