Wednesday, April 7, 2010 as of 11:14 AM ET
Banco Bilbao Vizcaya Argentaria, S.A. (, or BBVA, is a multinational Spanish banking group. It was formed in 1999 from the merger of Banco Bilbao Vizcaya and Argentaria, both of which in turn had previously amalgamated three important banks in Spain, namely Banco de Bilbao, Banco de Vizcaya, Banco Exterior de España and the state-owned Caja Postal de Ahorros, with other minor entities.
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Ratings agency Standard & Poor's cut the ratings on five Spanish banks on Friday, another blow to the country's ailing banking sector as the nation's deteriorating finances rattle global investors.
But S&P left unchanged its ratings on the country's two biggest banks, Santander and Banco Bilbao Vizcaya Argentaria.The Standard & Poor's ratings actions come about a week after Moody's Investors Service carried out a sweeping downgrade of Spain's banks, pointing to the government's weakened ability to support lenders.S&P lowered its rating on Banco Popular, Bankinter and Bankia to 'BB-plus' from 'BBB-minus' and cut the ratings of two other banks, Banca Civica and Banco Financiero de Ahorros. BFA is Bankia's parent company.The cuts to BB-plus take those banks into junk territory, underscoring risks to the country's financial sector.Last month S&P cut its credit rating on Spain by two notches, citing expectations the government finances will worsen even more than previously thought.Spain's ba...The Spanish government, through its recently created fund to finance payments to suppliers, secured Wednesday a five-year syndicated loan for EUR30 billion, extendib...
Troubled Spanish lender Bankia SA (BKIA.MC) said Wednesday it has named Jose Sevilla and Antonio Ortega, two bankers that earlier worked for Banco Bilbao Vizcaya Arg...
International companies trading in New York ended lower Monday, in line with the broader market, as political gridlock in Greece fueled fears that the country could ...
Argentina's BBVA Banco Frances SA (BFR, FRAN.BA) said Monday it expects its loan portfolio to grow about 25% this year, after increasing almost 49% in 2011.Argentina...
Spanish banks will remain vulnerable to rising loan delinquencies even after they set aside EUR30 billion in newly announced real-estate loss provisions, Moody's Inv...
Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA) said Monday it will set aside EUR1.8 billion to cover losses and meet new government requirements.Under a plan anno...
International companies trading in New York closed lower Wednesday, in line with the broader market, on continued concern over the future of the euro zone.The Bank o...
The management of Bankia SA (BKIA.MC) plans to ask the country's government to take a stake in the troubled lender, a senior government official said Wednesday.The m...
While the spectre of a downgrade of European banks by Moody's Investors Service Inc. looms, French, Italian and Spanish bank bonds, and the cost of insuring their de...
Spain's Bankia SA (BKIA.MC) Monday said Chairman Rodrigo De Rato, a former Spanish finance minister and International Monetary Fund managing director, is resigning a...
China Citic Bank Corp.'s (0998.HK) first-quarter net profit rose 32% from a year earlier because of growth in net interest income and fee income, the seventh-largest...
TAKING THE PULSE: Spain's two largest banks faced mounting pressure in the first quarter of the year as the country slipped back into a recession and investors were ...
ACAPULCO, Mexico -(Dow Jones)- Mexican banks expect to continue to expand lending this year despite a complicated international financial outlook due to troubles in ...
Bad debts held by Spanish banks rose to a 17-year high in March and the cost of insuring the debt of two major Spanish banks against default hit a record Friday, und...
The cost of insuring the debt of two major Spanish banks against default was at record highs Friday, reflecting the reinforced worries spurred on by the downgrade by...
Spain's banking stocks, including those of market bellwethers Banco Bilbao Vizcaya Argentaria SA (BBVA.MC) and Banco Santander SA (STD), rebounded Friday in early tr...
International companies trading in New York ended lower Thursday, in line with the broader market, as continued worries about Greece and concerns about the health of...
Moody's Investors Service on Thursday lowered ratings of 16 Spanish banks and Banco Santander's U.K.-based subsidiary by one to three notches. Moody's cited unfavora...
Banco Bilbao Vizcaya Argentaria SA (BBVA) said Wednesday that Juan Asua, currently head for Spain and Portugal, will replace Jose Barreiro as the director for corpor...
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