The Spanish lender BBVA reported higher profit, benefiting from strong lending activity in its key Spanish and Mexican businesses.
The growth in lending helped boost revenue, which in turn lifted the bank's overall earnings. Strength in its two core markets gave the bank a solid foundation for the period.
BBVA's performance in Spain and Mexico highlights the importance of those markets to its business. Demand for loans in both countries contributed directly to the top-line growth that drove the improved result.
The results point to the bank's continued reliance on lending as its main source of income, with its Spanish and Mexican operations leading the way.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing