BBVA pre-tax profits fall 25% in IB

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BBVA pre-tax profits fall 25% in IB

Pre-tax profits in BBVA’s investment banking business fell by more than 25% for the third quarter, down to €302m from €405m in Q3 2010. The Spanish bank said that its trading business was negatively affected in the last three months as a result of the general decline in asset values caused by the turbulent state of market conditions.

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