Thursday, October 1, 2009

Spiegel.de | After a rash of deals, BBVA is now the second-biggest European bank in Asia after HSBC, and it's just getting started.

The bank is also expanding rapidly in the US. On Aug. 20, BBVA won a US government auction for Texas-based Guaranty Financial Group, and the Spanish giant, led by Francisco González, has made it clear that BBVA is interested in taking over other shaky American banks. BBVA's profit in 2008 was $8 billion. The company doesn't provide any guidance or estimate for 2009's bottom line, but the consensus estimate of financial analysts is $7.1 billion, an 11 percent drop. FULL STORY