bbva

Meanwhile, BBVA's managers do not own significant stakes in the bank and consider themselves to have a more conservative culture.

BBVA said it had not made a final decision on whether to increase its stake in China's seventh-largest lender by assets.

Both banks focus mostly on retail banking, and avoided investments in toxic off-balance-sheet exposures at the behest of the Bank of Spain.

BBVA disagrees and is now well placed to expand its presence in a dynamic region home to many of the world's fastest growing economies.

BBVA is expected to pay for the increased stake out of its reserves.

Manuel Galatas, BBVA's managing director in Asia, does, however, admit Asia has not been plain sailing.

BBVA made its initial investment three years ago during a period in which western lenders raced to strike partnerships with Chinese lenders.

This summer league sponsor Southwest Airlines did walk away from the NBA, yet the league added a new partner in banking giant BBVA.

BBVA's move comes as La Caixa, the Barcelona-based savings and loan institution, considers whether to raise its exposure to greater China.

A bright spot was the performance of Spanish banks BBVA and Santander, whose brand value rose 33 and 10 per cent respectively.

BBVA - Spain's second-largest bank said no customers in Spain were exposed to the alleged fraud.

The big two Spanish banks, Santander and BBVA, have more or less covered their refinancing needs for 2010.

As part of the plan, Citic International will be de-listed to allow BBVA to raise its stake to 30 per cent.

It has lost 300m euro by lending to clients invested with Mr Madoff.

Latin America is also important for Santander and BBVA, Spain's two biggest banks.

The two banks also have an automobile financing venture in which BBVA holds 35 per cent.

BBVA, meanwhile, is paying its 2008 dividend partly in shares, and prudently plans to cut the payout ratio for 2009.

BBVA has spent EURO 1 billion ($1. 4 billion) to take nearly 5% of China CITIC Bank and a 15% stake of CITIC International Holdings.

The measure forms part of BBVA's cost-cutting.

BBVA purchased the shares at HK$6. 45, a price that was fixed when the bank initially invested in China Citic three years ago.

BBVA rushed to deny it too needed more capital.

The region accounted for 43% of Santander's 2008 operating profit and over half of BBVA's.

The Financial Times reported last month that BBVA was preparing to increase its stake in China Citic.

But in Asia, it is BBVA that has taken the lead.

BBVA's stake in China Citic Bank is still a work in progress, but some synergies could soon pay off.

Swaps on Banco Espirito rose to a record, while contracts on BBVA climbed to the highest level in more than four months.

BBVA's network in South America is valuable to Chinese companies looking to expand there, for example.

BBVA agreed to purchase a 24. 9 percent stake in Turkiye Garanti Bankasi AS for $5. 8 billion.