BBVA keeps on generating benefits

The BBVA keeps on generating benefits, gaining 4.179 millions until September, according to the presented results this week. Nevertheless, this result is n 7,2 % less than in the same period of the previous year. Fitting definitely to the ordinary results, the fall in the benefits is only of 3,3 %.

Before high in the slowness, the BBVA has underlined, across his manager Ángel Cano, that the generic provisions that the entity has realized will be sufficient to cover the possible non-payments until the year 2011 and it moved forward that it will destine to additional provisions the appreciations that the entity could go so far as to obtain, as it has happened in the third trimester of the present 2009. This way, BBVA destined 830 million appreciations obtained in the sale with long-term lease of 948 of his real estate in Spain to strengthen the level of generic provisions for insolvencies of the group.

Also, with regard to the loans refinancing to promoters due to the change in the economic circumstances, the entity trimester hopes to support the earnings reduction in mulberry of the group concerning 25 basic points in next, being based on what they consider to be solid essentials of the groups with which they negotiate.
Manuel González Cid, financial director of BBVA, aimed that the entity has aptitude to keep on extending the percentage of proper funds opposite to the exigibles concerning 20 points every trimester during the next 18 months. At present, this percentage is located in 8 %.

This, nevertheless, will not suppose a change in the politics of dividends of the bank, thanks to the fact that they are provided with a big capital and there is nadelantado to the possible increase of these requirements. This way, they will support his pay-out (number that indicates the percentage of the benefits that is assined to the dividends payment) in 30 % and with the compensation in cash.

On the other hand, the priority of the bank centers on receiving clients to gain market share in 2010, instead of devoting itself to acquire new networks or offices. In addition to this, the bank hopes to reach the integration of Guaranty Bank in February and does not try to change his growth strategy.

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