The large increase took place despite the fact that the bank had to deal with a payment of 215 million euros for the extraordinary bank tax in Spain.
The group BBVA closed the first nine months of 2023 with a net profit of 5961 million euroswhich corresponds to an increase of 24.3% compared to the same period of the previous year, as reported by the financial institution this Tuesday when publishing its quarterly income statement.
Excluding the effect of inflation, profit growth at a constant exchange rate was 37.9%, the bank said. The large increase took place despite the fact that the bank had to deal with a payment of 215 million euros for the extraordinary tax on banks in Spain.
“We achieved excellent results in the first nine months of 2023, thanks to the positive evolution of recurring revenues. We are one of the largest banks efficient and profitable in Europe, with profitability already reaching 17%. These results allow us to continue generating value for our stakeholders and contributing to the progress of society,” said Onur Genç, CEO of BBVA.
The entity’s total revenues between January and September were 22,104 million eurosrepresenting an increase of 21.1% compared to the same period in 2022.
Source: EITB
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