BBVA Latin American banking profits up 28% in H1

The Latin American banks of Spain's BBVA (NYSE: BBV), excluding its Mexican unit, increased first half net attributable profits 27.7% to 329mn euros (US$520mn) over the year-ago period, BBVA said in its earnings release. In a webcast, BBVA COO José Ignacio Goirigolzarri highlighted the positive evolution of the efficiency ratio of this business area - which improved to 43.5% from 45.8% - and asset quality control. The non-performing loan ratio improved 30 basis points to 2.24% in the 12 months ended June 2008. 'We feel very optimistic on upcoming quarters,' Goirigolzarri said in reference to BBVA's South American business area.