BBVA Q3 Net Profit Drops 82%

Banco Bilbao Vizcaya Argentaria SA

reported an 82% drop in its third-quarter net profit. BBVA's quarterly net profit fell to EUR146 million, from EUR804 million, in the year-ago period. However, analysts were expecting a profit of EUR166 million. Its net interest income surged 18% to EUR3.88 billion, versus analysts' estimates of EUR3.8 billion. BBVA's net profit in the first nine months declined 47% to EUR1.66 billion. BBVA's shares closed at $8.06 on Friday.