BBVA FRANCÉS: Net Profit Rises 144% In 4Q17 To 1.42 Billion Pesos
(RTTNews) - The Argentinean bank BBVA Francés posted a 1.421 billion (US$ 70.52 million) net profit in the last quarter of 2017, recording a 25.2% growth compared to the previous quarter and a 144% increase over the same quarter of the previous year.
Net financial income grew 15.2% in the fourth quarter of 2017 and 40.6% compared to the same period of 2016. The quarterly variation is primarily explained by a higher intermediation volume with the private sector and the increase in own resources. The result was partially offset by higher financial expenses due to the increase in the average deposit rate resulting from the monetary policy implemented by the Central Bank.
Meanwhile, income from assets adjusted for inflation increased in the quarter as a result of the higher consumer prices index increase compared to the previous quarter.