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Spanish bank BBVA reports higher profits

Spain's BBVA bank has reported a full year net profit of 4.6bn euros (£3.9bn; $6.3bn), a 9.4% rise on the previous year.

It comes as many of Spain's regional savings banks are struggling to survive, weighed down by the property crash, deep austerity cuts and a weak economy.

The problems at home forced BBVA and rival Santander, which reports on Thursday, to look further afield to boost growth.

Nigel Cassidy reports from Spain.

  • 02 Feb 2011