BBVA reports strong figures ahead of AT1 roadshow
BBVA reported first quarter results broadly in line with market expectations, showing a 27% increase in pre-tax income for the group’s wholesale banking business and a €70m increase in overall net profit compared to the first quarter of 2012.
The results came as the bank on Thursday evening announced a roadshow for what could be the first CRD IV compliant additional tier one capital trade from a European bank.
The AT1 deal is likely to be benchmark sized, and will have an equity conversion structure with a 7%
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.