BBVA CEO Carlos Torres Vila explained today, following the release of the BBVA’s first quarter financials for 2018, that the net attributable profit increased 12 percent, to €1.34 billion. “We had a very solid start of the year, this has been our highest quarterly result in three years,” he said.
Several essential factors have contributed to this performance: Recurring revenues are growing strongly, excellent cost trends, a good performance of the NPL ratio, increased capital strength, growth across all geographies, creating value for our shareholders. “We have good news on all fronts,” he noted.
Regarding the results of the company’s transformation effort, Carlos Torres Vila said that “they are increasingly more evident, both in terms of efficiency ratio – the best in five years – and digital sales, which already account for 36 percent of the total, compared to 20 percent one year ago. Also, he said that “mobile customer base grew 43 percent, and now stands at over 19 million customers, and our digital customer base rose 25 percent, to over 24 million.”