BBVA net profit beats expectations

MADRID (MarketWatch)
Spain's BBVA SA on Wednesday reported a slight fall in first-quarter net profit, but still beat forecasts
The bank reported profit of 1.01 billion euros ($1.33 billion) in the period, compared to a profit of €1.15 billion in the year-ago period
A survey of analysts polled by Dow Jones Newswires was forecasting net prTofit of €912 million
Net interest income rose to €3.6 billion against €3.18 billion in the year-ago period
The bank's core Tier 1 capital at the end of March was 10.7%, compared to 8.9% in the year-ago period
BBVA said the generaetion of organic capital has allowed it to comply with capital requirement rules set by the European Central Bank without the need to sell strategic assets