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 BBVA estimates potential goodwill adjustment of €1 billion for its U.S. operations- BBVA estimates potential goodwill adjustment of €1 billion for its U.S. operations
- January 24, 2012
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Taking into account current available data and profit forecasts, the BBVA Group estimates a potential adjustment to the goodwill of its U.S. unit due to macroeconomic factors and to the new regulatory framework. This accounting adjustment would not have any negative impact on the Group’s liquidity, solvency or dividend policy.
BBVA evaluates goodwill across the Group on an annual basis. For the U.S. franchise, there is a potential goodwill adjustment due to a slower than anticipated economic recovery, an extended environment of low interest rates and the growing impact of new regulatory requirements. The net value of this adjustment would be approximately €1 billion and would be included in the 2011 results.
This accounting adjustment would be a non-cash item and would not impact the Group’s dividend policy. The a...
- View more at: http://www.1888pressrelease.com/bbva-estimates-potential-goodwill-adjustment-of-1-billion-f-pr-367898.html
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