The Diplomat
BBVA obtained an attributable net profit of 2,200 million euros in the entire first quarter of 2024, which represents an increase of 19.1% compared to the same period last year, as reported by the bank yesterday when publishing its quarterly accounts.
By geography, Mexico remained BBVA’s main market, with a gross margin of 3,967 million euros (+20%) and a profit of 1,441 million (+12.7%). In second place was Spain, with a gross margin of 2,162 million (+25.2%) and profits of 725 million (+36.5%).
In third place was Turkey, where BBVA increased its total income by 11.8% (to 897 million) but reduced its profits by 48%, to 144 million euros, due to the depreciation of the Turkish lira due to hyperinflation.
In the rest of the Latin American countries, the bank earned 600 million (-5.8%) and earned 119 million, 34.3% less. The rest of the businesses closed the quarter with 176 million euros in revenue, 41.9% more, and with profits of 121 million, 30.1% more, highlighting the contribution from the rest of Europe and the New York branch. York.