Monolines Shares in BBVA surged 4 per cent on Tuesday after Spain’s second-largest bank beat forecasts with a 10 per cent year-on-year decline in first-half net profits.
The bank said profits for the six months to the end of June were €2.8bn ($3.9bn), compared with €3.1bn for the same period last year. After stripping out one-off gains from asset sales last year, the decline was 4.4 per cent, the bank said.
