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Spanish Banks: LatAm Profits Up

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BY CHRONICLE STAFF

 Spain-based Santander, the country's largest bank, boosted Latin America revenues in the nine months ending September 30 by 34.5 percent to 4.4 billion euro (approximately US$6.3 billion) it reported in its earnings release today

Spain's Banco Bilbao Vizcaya Argentaria saw a 20 percent rise in third-quarter net profit, driven by strong revenue growth in Spain and Mexico, AP reports. in Mexico, the U.S. and Latin America, robust operating trends were masked by negative currency developments. BBVA said that, excluding the currency impact, third-quarter net profit would have risen 24 percent on the year.

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