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Spain's BBVA says its commitment to Turkey is unchanged

MADRID, March 22 (Reuters) - Spain’s BBVA on Monday said its commitment to Turkey was unchanged after President Tayyip Erdogan abruptly sacked the country’s central bank chief on Saturday, triggering a plunge in the Turkish lira.

BBVA, which makes around 14% of its profit in Turkey, increased its bottom line in Turkey 11.4% to 563 million euros ($669.74 million)in 2020.

“BBVA’s commitment to Turkey is unchanged”, a BBVA spokesman said, adding that the impact of a 10% decline of the lira versus euro had only 2 basis points impact on its capital. ($1 = 0.8406 euros) (Reporting by Jesús Aguado Editing by Ingrid Melander)

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