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Economic results 27 Oct 2017

Carlos Torres Vila: "In the U.S. our franchise boosted profits 42% to 422 million euros"

BBVA CEO Carlos Torres Vila today explained, following the publication of the third quarter 2017 results, that in the first nine months of this year, BBVA earned 3.45 billion euros, 23% more than in the same period last year. “These excellent results prolong the positive trends we saw in the first two quarters of the year. The two key aspects fueling earnings were the growth in recurring income, and a great control of costs. On top of that, the decline in impairments is very positive and we also generated capital once more this quarter”.

In the U.S. our franchise boosted profits 42% to 422 million euros, with positive trends which were reflected in the P&L, such as the growth in recurrent income. This growth in profits is very relevant taking into account the 60 million-dollar impact we had from the hurricanes. As for our strategy, we are focused on profitable growth, and we have a great opportunity in this market”, has explained Carlos Torres Vila.

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