In 2011 BBVA obtained recurrent net attributable profit of €4.02 billion, which is 12.8% less than the previous year, before an accounting adjustment to goodwill in the U.S. franchise. These earnings are evidence of BBVA’s strength, supported by a portfolio that is balanced and diversified across regions, businesses and segments. 

BBVA, announces today that it is adopting Google’s cloud-based collaboration and communication suite Google Apps for Business to increase productivity and drive innovation.

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.

BBVA Chairman and CEO, Francisco González, highlighted the importance of South Korea as a strategic market in Asia during his visit to Seoul to attend the opening ceremony of a branch in the Korean capital.

The net attributable profit of BBVA Group in the first nine months of 2011 came to €3.14 billion, which was 14% less than the same period last year due to the erratic behavior of markets in the third quarter. Excluding net trading income, profit was down 4.8%.

The superior strength of BBVA was underlined on July 15 with the publication of the stress tests. BBVA’s business model generates solid and recurrent earnings in complex conditions and this is demonstrated by the gains obtained in the first half of 2011. Total profit for the year to June comes to €2.339 billion, which is 12.5% higher than the second half of 2010. In June the Group’s non-performing asset ratio improved to 4.0%.

The second payout under BBVA’s novel remuneration system, the Dividend Choice, has been settled with the decision by 91.01% of the share capital to receive the dividend in new shares without tax withholdings.

The global economy looks set to expand 3.9% in 2011 and 4.1% in 2012, with emerging economies contributing 75% to 80% of the growth. For the ‘Eagles’ we forecast growth of 6.7% and 6.5% in 2011 and 2012, respectively.

The 2011 expedition