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Trading account 31 Jan 2020

Carlos Torres Vila: “BBVA has achieved outstanding results in 2019, thanks to record-high recurring revenue”

Following the publication of 4Q19 earnings, BBVA Group executive chairman Carlos Torres Vila explained today that: “BBVA has achieved outstanding results in 2019, thanks to record-high recurring revenue.” This, in conjunction with exemplary cost management, has helped us “reach an ex items profit of €4.83 billion — our highest since 2009.”

BBVA’s Group executive chairman also called attention to the NPL rate of 3.8 percent — the lowest in the last decade — and a capital ratio of 11.74 percent, with a substantial increase during the year. “And we have accomplished all of this in a very complex environment from a macroeconomic standpoint, marked by trade tensions and low interest rates,” he reiterated.

Carlos Torres Vila also noted that in 2019, “Our diversified model and unique strategy, together with the continued focus on creating value for our shareholders, has allowed us to achieve a profitability of 12 percent — leading the European banking industry.”

Finally, looking toward the future, BBVA’s Group executive chairman said that: “Our goal will be to dig deeper into our strategy, integrating the interests of customers, employees, shareholders and society as a whole, balancing economic, social and environmental perspectives in everything we do.”

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