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BBVA profit drops 8.2%, but beats forecasts

MADRID-- Banco Bilbao Vizcaya Argentaria SA said Friday that net profit fell in the second quarter from a year earlier, but it still beat analysts' estimates on slightly better-than-expected lending income.

BBVA, Spain's No. 2 bank by market value, said net profit dropped 8.2% to EUR1.12 billion ($1.24 billion) in the second quarter from EUR1.22 billion a year earlier.

Analysts had expected that a onetime contribution to a European Union fund--aimed...