Banco Bilbao Vizcaya Argentaría earnings for the fourth quarter rose more than expected as revenue strengthened and forecasts fell.
The Spanish bank announced a net profit of 1.34 billion euros compared to 1.32 billion euros a year ago.
Analysts had expected profits of 1.04 billion euros, according to convergent estimates.
The BBVA announced that net interest income rose 14% to 3.98 billion euros in the fourth quarter, while net commission income rose 20% to 1.25 billion euros.
Impairment of financial assets decreased to € 832 million during the period from € 901 million a year ago.
The Tier 1 capital adequacy ratio fell to 12.75% in December from 14.48% in September due to the € 3.5 billion share purchase program.
The bank announced an additional dividend of 23 cents per share compared to the result for 2021, with the total dividend for the year standing at 31 cents per share, the highest rate of the decade.
Source: Capital
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