BBVA BBVA Bilbao Vizcaya Argentaria SA

By Ed Frankl

Banco Bilbao Vizcaya Argentaria SA's Chief Executive Officer Carlos Torres said Monday that the Spanish's bank's 2022 dividend will be its highest in at least a decade.

"If we take into account the profit expected by consensus for the year as a whole, and also taking into account the payout policy of 40% to 50% that we have established, we expect this year's dividend to far exceed last year's dividend of 31 European cents [a share], which was already the highest cash dividend we have paid in the last decade," the Spanish bank's boss said.

Mr. Torres said financial figures from September showed a significant increase in lending, and in net profit by 50%, with a strong performance in Mexico and its domestic Spanish market.

However, Mr. Torres said the business environment was still highly uncertain, with the Ukraine war, the Covid-19 situation in China and commercial tensions in particular as issues in 2023.

At 1204 GMT, shares were up 0.6% at EUR6.40.

BBVA is due to publish full-year results on Feb. 1.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

January 16, 2023 07:25 ET (12:25 GMT)

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