BBVA Reports 3.7% Drop in Q3 Profit Amid Currency Challenges and Trading Slowdown

BBVA reported a 3.7% decline in Q3 profit due to currency fluctuations and diminished trading gains, reflecting broader economic challenges faced by the bank in Europe and Mexico.

• In the third quarter, BBVAs net profit reached 2.53 billion euros, down 3.7% from the previous year, highlighting the impact of currency challenges, particularly from the Mexican peso.
• Despite a rise in lending income, lower trading gains in Spain contributed to BBVAs earnings before interest and taxes decline, emphasizing the banks struggles in a competitive market.
• BBVAs recent failed takeover bid for Sabadell has further complicated its financial performance, as the bank aims to bolster its revenue amid a challenging economic landscape in Europe.