BBVA Spanish mutual funds assets slightly up
Spanish mutual funds of Banco Bilbao Vizcaya Argentaria (BBVA) reached €30.5bn by the end of September 2016, which represents a 1% increase over the same time a year ago.
Meanwhile, BBVA’s assets under management (AUM) in mutual funds and investment companies from the rest of the world decreased by 5.2% to €22.9bn for the period, according to the bank’s latest earnings report.
Despite the AUM decrease, the Spanish bank highlighted a year-on-year growth of 6.3% in Mexico’s mutual funds assets to €16.9bn by the end of Q3.
Back in August, Mexico’s BBVA Bancomer, which holds a 25% share of Mexico’s fund customers and has assets of over MXN 848m (€40.7m), launched a new range of mutual funds.
The Spanish bank turned to profit in Q3, as it posted a net attributable profit of €965m, compared to a loss of €1.06bn last year. Earnings per share were €0.14, compared to loss of €0.17 a year ago.
“It has been a good quarter, with solid growth in recurring revenues, cost control, and stability in risk indicators. Furthermore, we have already achieved the capital goal we had set for 2017,” BBVA CEO Carlos Torres said.