Banco Bilbao Vizcaya Argentaria SA on Tuesday reported a 1% dip in third-quarter net profit as a sharp rise in impairments for loan losses offset revenue growth in its Iberian and Latin American operations.

BBVA, Spain's second-biggest bank by assets behind Banco Santander SA, said net profit in the quarter edged down to $2.07 billion, better than the average $1.96 billion forecast in a Dow Jones Newswires survey of 10 analysts.

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