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BBVA profit rises 34% but misses estimates

  • Banco Bilbao Vizcaya Argentaria's (BBVA) Q3 net profit climbed 34% to €195M ($269.5M) but badly missed consensus of €614.5M.
  • BBVA took a €600M charge for reclassifying €3.86B of refinanced loans as non-performing.
  • BBVA will not pay a dividend in January but will increase the April payout to 17 cents a share vs the 12 cents that was originally forecast. (PR)
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