BBVA shares fall as higher provisions, impairments weigh on Q3 results

By Reuters News

** Shares of BBVA BBVA.MC fall 5% after a "mixed" Q3 print, as higher than expected provisions and impairments weighed on quarterly results

** The lender booked a net profit of €3.02 billion in the July-September period, roughly in line with the €3.01 billion expected by analysts polled by Reuters

** BBVA's loan-loss provisions rose 24% year-on-year in the quarter to €1.95 billion compared with analysts' forecasts of €1.86 billion, following a rise in customer loans

** Jefferies says BBVA's performance was a "mixed bag", with a 3% net interest income beat coming from rest of the business and Turkey, offset by weak performance in Spain

** The broker points to misses to consensus on net fee income (1% lower), total costs (1% heavier) and total impairments (4% miss) for BBVA in the quarter

** Shares on track for their worst day in almost six months and among worst performers on STOXX 600 .STOXX index

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