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    Spain's BBVA bank profits slump

    Agence France-Presse
    29.04.2009 - 00:00 | Son Güncelleme:

    MADRID -Spain's second largest bank BBVA said yesterday its first-quarter net profit plunged 36.6 percent to 1.238 billion euros ($1.612 billion) largely due to a fall in exceptional items.

    Net banking income, the margin made between the cost of taking in deposits and the price of lending them, rose 20.1 percent to 3.272 billion euros. Its bad loan ratio soared to 2.8 percent from 1.1 percent in the same period last year, a trend seen throughout Spain's banking sector amid the collapse of the country's property bubble last year.
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