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.

 

ABOUT THE AUTHOR
Alicia Villegas
Alicia Villegas speaks Spanish and Italian and is Iberia Correspondent for InvestmentEurope. She was shortlisted for the Rising Star Award at the British Media Awards 2017 and Writer of the Year at the PPA Independent Publisher Awards 2016. Previously, she worked for almost three years at the seafood business website Undercurrent News as a market reporter. In Spain, she also worked for more than five years for several media outlets.

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