MADRID (Reuters) – BBVA said Friday its net profit more than doubled in the first half compared to the same period last year, supported by extraordinary gains 583 million euros from the sale of its 5.6 percent stake in the Chinese bank CNCB.
Spain’s second largest bank by market value reported a profit of 2,760 million euros (3,000 million dollars) in the first half, compared with forecasts of 2.434 million euros.
In the second quarter, net income rose 74 percent to 1.223 million euros, also above expectations.
Meanwhile, the Group net interest income to June rose 6.9 percent to 7,521 million euros, while the gross margin rose by 11.4 percent to 11.554 million euros.
Analysts had expected a net interest income of 7.412 million euros and a gross margin of 11.241 million euros.
($ 1 = 0.7177 euros)
(Reporting by Sarah White. Published in Spanish by Carlos Aliaga)
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