It is still waiting to hear the outcome of the appeal. Loans outstanding increased one third to 169.4bn. BBVA annual results BBVA shows most figures up, though the accounts are not on a true pro forma basis. Whilst the old BBV and Argentaria are consolidated no pro forma allowance had been made for acquisitions made during 2000. In some cases these are partially included in the accounts.
Meaningful comparisons are therefore limited.
The results generally exceeded market forecasts. It is thought both BBVA and BSCH will have a harder time this year because of slowing South American economies. The result was better than expected given no real growth Argentine economy. Some of the additional income came from its acquisition of Gire during the year. The bank said its expenses were up partly due to increased branches and higher salaries.