BBVA improves group’s cost of risk guidance for 2020

MADRID (Reuters) – Spain’s BBVA on Wednesday improved the guidance of insuring its loan book for 2020 to between 150 and 160 basis points due to a better than expected performance of loan deferrals in Mexico, its main market.

It had previously estimated a cost of risk guidance for the group of 150 to 180 basis points for this year.

The lender also said it planned to resume shareholders remuneration once COVID-19 uncertainties dissipated and supervisory recommendation was eliminated.

(Reporting by Jesús Aguado; Editing by Ingrid Melander)