BBVA Rising Provisions, Capital Miss Offset Higher Revenue

BBVA SA fell the most in more than eight months after the Spanish lender reported higher provisions in key markets such as Turkey and Mexico in the fourth quarter.

The shares fell as much as 5.5% as provisions increased 19% from a year earlier and costs came in higher than analysts’ had expected, while a measure of capital strength fell short. Net income of €2.53 billion ($2.98 billion) was in line estimates.