BBVA Posts Q4 Profit

Banco Bilbao Vizcaya Argentaria SA BBVA posted a profit in the fourth-quarter. The Spain's bank swung to a quarterly net profit of EUR689 million ($790.97 million), versus a year-ago loss of EUR849 million. Analysts were expecting a profit of EUR592 million. BBVA's net interest income climbed to EUR4.25 billion from EUR3.76 billion, versus estimates of EUR3.8 billion. "It has been a difficult but good year, shaped by growing income, controlled costs and improved risk indicators", BBVA Chairman & CEO Francisco González said. "All of this, on top of a very robust capital base, has allowed us to close the year in an astounding position to face a new cycle of growth and business transformation," he added. BBVA shares climbed 3.72% to $9.49 in pre-market trading.