BBVA has said its move to acquire a 14.9 % stake in Garanti bank will likely hit 3Q results by € 1.8bn ( $ 2 billion ) , a larger sum that initially expected due to the depreciating lira ##bility ; this is up from a previous forecast of a negative impact of € ##100 . The bank has also now said that the bank will cut its Tier1 capital ratio by around 50 percentage points , compared with the 48 points it originally predicted .
BBVA has said its move to purchase a 14.9% stake in Garanti Bank will likely hit 3Q results by €1.8bn ($2 billion), a larger sum that initially expected due to the depreciating lira currency; this is up from a previous forecast of a negative impact of €1.5bn. The bank has also now said that the transaction will cut its Tier1 capital ratio by around 50 basis points, compared with the 48 points it originally predicted.