ADVERTISEMENT

Business

BBVA CIB Head Discloses Record Profit of €2.5 Billion for 2024

Customers use ATMs outside a BBVA branch in Madrid, Spain. (Paul Hanna/Bloomberg)

(Bloomberg) -- BBVA SA’s corporate and investment banking unit will post a record profit of more than €2.5 billion ($2.6 billion) this year, unit head Javier Rodriguez Soler disclosed on his LinkedIn profile.

“About to close an outstanding year at BBVA Corporate & Investment Banking with more than €5 billion revenues and more than €2.5 billion in net profit,” he said in a post Thursday.

The figures compare with a profit of €2.25 billion last year and revenue of €4.8 billion. The CIB is one of the units where BBVA is investing to grow, with several hirings in UK and US over the last months. 

A spokesperson for BBVA declined to comment on the post.

The lender, whose full name is Banco Bilbao Vizcaya Argentaria, is in the middle of a takeover attempt of local rival Banco Sabadell SA. It made an offer on May which is now taking longer than expected pending on regulatory approvals. 

BBVA announced a net income in the CIB business of €2.07 billion in the three quarters through September this year.

©2024 Bloomberg L.P.