Image source: The Motley Fool. Banco Bilbao Vizcaya Argentaria (NYSE: BBVA)Q2 2022 Earnings CallJul 29, 2022, 3:30 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Patricia Bueno Good morning, and welcome, everyone, to the BBVA second quarter 2022 results presentation.
MADRID (Reuters) -Shares in BBVA fell on Wednesday, after the Spanish bank said hyperinflation accounting at its Turkish unit Garanti would erode its contribution in 2022. BBVA, which has an 86% stake in Garanti, said on Tuesday restating inflation-adjusted numbers from Jan. 1 had a negative impact of 324 million euros ($341 million) on the group's net attributable profit in the first quarter. Following the new accounting system, BBVA restated its net profit in the first quarter to 1.326 billion euros.
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