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Earnings

31 Jul 2024

BBVA CEO Onur Genç discussed the transaction with Banco Sabadell during the earnings presentation for the first half of the year. Genç stressed that this combination creates value for both Sabadell and BBVA shareholders. “We both win in this transaction: we create value and we share it,” he said. Specifically, thanks to the substantial synergies created, Banco Sabadell shareholders would obtain 27 percent higher earnings per share (EPS) in the combined bank than if the bank continued as a separate entity¹, according to calculations based on analyst consensus for both banks.

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BBVA posted a net attributable profit of €4.99 billion through June 2024, up 29 percent yoy (37 percent in constant euros). Profit in 2Q24 rose 38 percent compared to the same period a year earlier (37 percent in constant euros), reaching €2.79 billion, on the back of strong activity. Lending grew by 10.7 percent yoy in constant euros, with a notable contribution from corporate loans. Furthermore, BBVA boosted the value creation for its shareholders, with a 20 percent annual increase of the tangible book value plus dividends per share. Profitability (ROTE) reached an outstanding 20 percent and the efficiency ratio stood at 39.3 percent, an all-time best.

07 May 2024

BBVA Chair Carlos Torres Vila gave the opening presentation at the BBVA Mexico's annual National Meeting of Regional Advisors 2024, the Group's flagship summit in Mexico. Addressing more than 400 business leaders, he reasserted BBVA's commitment to Mexico by announcing that the bank's investments in the country will reach 81.4 billion pesos, or around €4.45 billion, well above the amount originally foreseen in the 2019-2024 plan.

29 Apr 2024

At the presentation of first-quarter results, CEO Onur Genç said that BBVA expects improved profit both this year and next year compared to the same period of 2023. Specifically, "Our outlook for net attributable profit this year improves to double-digit growth. I see an even better 2025 versus 2024," he said. Genç also anticipates higher recurring revenue in the BBVA Group account in 2024, thanks to an improvement in the forecast for net interest income in Spain.

Garanti BBVA announced its financial results for the first quarter of 2024. The bank’s net income for the first three months of the year stood at TL 22.48 billion; total  assets were TL 2.46 trillion; and cash and non-cash loans reached TL 1.85 trillion. Customer deposits represented 71 percent of assets - the main source of funding. The total deposit base reached TL 1.75 trillion, up 9.3 percent this quarter.  Garanti BBVA’s capital adequacy ratio was 15.4 percent,*  its return on average equity (ROAE) was 36 percent, and return on average assets (ROAA) was 3.9 percent.

*Does not include  the forbearance introduced by BRSA

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The BBVA Group started 2024 with very positive results: Net attributable profit reached €2.2 billion in the first quarter, up 19 percent from a year earlier (+38 percent at constant exchange rates). Earnings per share rose at an even higher pace, 23 percent yoy. These figures are the result of bolstering activity -lending grew 9.5 percent yoy in constant euros- and the outstanding performance of recurring income, which increased 19 percent yoy (+27 percent in constant euros). Additionally, between January and March, BBVA added 2.8 million new customers, 67 percent of them digitally; and channeled €20 billion in sustainable business.

31 Jan 2024

BBVA’s senior leadership predicted on Tuesday that the bank has the ability to enhance its results in 2024, after publishing record-breaking profit in 2023. BBVA Chair Carlos Torres Vila underscored that “2023 was an excellent year for BBVA and 2024 will be even better.” This growth, he explained, will allow BBVA to have a greater impact on its shareholders, customers, employees and society as a whole. “Our net attributable profit will continue to grow this year,” stated CEO Onur Genç during the presentation of the bank’s annual results in Madrid.

31 Oct 2023

During the earnings presentation for the third quarter, BBVA’s CEO, Onur Genç, explained that these results allow the bank to make a balanced contribution to social well-being by responding to the needs of all stakeholders: employees, suppliers, shareholders, customers and society as a whole. Looking ahead to 2024, he expects the bank’s results to exceed this year’s and therefore its contribution to society will be even greater.

09 Oct 2023

BBVA CEO Onur Genç said on Monday that he has “confidence in the sustainability of BBVA’s results in the future.” This is due to the fact that the bank has certain structural advantages that go beyond the specific market context: its strategy, leveraged in digitization, innovation and sustainability; its leading, profitable franchises; and its presence in attractive markets with potential for growth". In his opinion, “We have room to increase these earnings in the coming years,” he said at the 14th Financial Meeting organized by KPMG and Spanish business daily Expansión.

28 Jul 2023

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BBVA earned €3.88 billion in the first half of the year, up 31.1 percent yoy (+45.2 percent at constant exchange rates). The growth of earnings per share was even higher (41.1 percent) thanks to share buyback programs already carried out. In 2Q23, net attributable profit surpassed the €2-billion mark due to the positive performance of core revenues, amid greater activity. All of that while maintaining a solid capital position, with a fully-loaded CET1 ratio of 12.99 percent at the end of June, which will allow BBVA to proceed with a new extraordinary share buyback program of  €1 billion, once the corresponding supervisory authorizations have been received¹.

27 Jul 2023

Garanti BBVA has released its earnings through June 30, 2023. The bank’s net income for the first half of the year totaled TL 33.81 billion; asset size stood at TL 1.89 trillion; and Garanti BBVA contributed TL 1.31 trillion to the economy through cash and non-cash loans. Customer deposits reached TL 1.40 trillion for the first six months of 2023, and remained the main source of funding, with 74 percent of assets funded by deposits. The bank’s capital position continues to be strong with a capital adequacy ratio of 15.8 percent.* Its return on average equity (ROAE) reached 38.3 percent and return on average assets (ROAA) was 4.2 percent.

27 Apr 2023

Türkiye’s Garanti Bank earned a net income of TL 15.5 billion in the first quarter of the year. Total assets stood at TL 1.5 trillion and the bank contributed TL 1.1 trillion to the economy through lending activity. Customer deposits reached TL 1.0 trillion (+14 percent this quarter) and remain the primary source of funding, with 70 percent of assets funded by deposits. Garanti Bank continues to have a strong capital position, with a ratio of 15.9 percent¹. Its ROAE was 38.2 percent in the first three months of the year, and ROAA stood at 4.5 percent².

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BBVA posted a net attributable profit of €1.85 billion in the first quarter of 2023 (+39.4 percent at current exchange rates, +40.5 percent in constant euros). These results were fueled by strong core revenue performance (net interest income and net fees and commissions) especially in Mexico and Spain, and higher activity. The loan portfolio grew 9.8 percent in constant euros vs. March last year, amplifying the impact of BBVA on society through financing of future projects for families and companies. In 1Q23, BBVA added 2.6 million new customers and channeled €14 billion in sustainable business. All of that while maintaining stable risk indicators in line with expectations, and a comfortable liquidity and CET1 capital position, which stood at 13.13 percent at the end of March.

03 Feb 2023

BBVA’s record profit for 2022 was warmly received by the market. Analysts have raised their valuations of the bank following the results release, given the strength of the figures and the bank’s guidance for 2023. During the February 1, 2023 trading day, the bank's share price climbed 4.7%.

01 Feb 2023

BBVA Chair Carlos Torres Vila spoke of the vital role that banks play in the economy when presenting the 2022 results. “Banks act as catalysts of activity by granting credit to the real economy,” he said. “This may be banks’ greatest contribution to society,” he added. In this regard, he underlined that in 2022, the BBVA Group granted nearly €200 billion in new financing to businesses. At the press conference, BBVA CEO Onur Genç also shared the bank’s outlook for 2023.

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In 2022, BBVA had major advances in its strategy: It added more than 11 million new customers and continued to increase its digital sales, which already account for nearly 80 percent of the total. Furthermore, the bank channeled €50 billion in sustainable business. These achievements led to a net attributable profit of €6.42 billion in 2022, up 38 percent compared to the previous year (+39 percent at constant exchange rates), its highest to date. This figure is the result of solid income growth, bolstered by a double-digit increase in lending (+13.3 percent in constant euros). Operating income also posted a record (€14.13 billion). With these results, the bank will distribute more than €3 billion through a significantly higher dividend, which will reach €0.43 per share, and a new €422 million share buyback program¹.

28 Oct 2022

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BBVA posted a net attributable profit of €4.84 billion between January and September 2022, (+46.2 percent at current exchange rates, +47 percent in constant euros). This figure is the result of increased activity, with double-digit growth in lending (+15 percent¹ in constant euros), and positive performance in recurring revenues (+28.8 percent in constant euros). In 3Q22, the attributable profit stood at €1.84 billion (+31.4 percent at current exchange rates, +34.1 in constant euros).

29 Jul 2022

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The BBVA Group posted a net attributable profit of €3 billion in the first half of 2022 (+59.3 percent yoy in constant euros, +57.1 percent at current exchange rates), on the back of strong revenues, driven by greater activity (+12.6 percent), lower provisions and appropriate cost management in an environment of high inflation. Excluding the non-recurring impact from the acquisition of offices in Spain from Merlin, recurrent profit totaled €3.2 billion (+40.8 percent in constant euros, +37.6 percent at current exchange rates). BBVA also set a new quarterly record in terms of customer acquisition and sustainable financing.

28 Jul 2022

Garanti BBVA released its financial statements dated June 30, 2022. Based on the consolidated financials, the Bank posted net income for the first 6 months of the year of TL 21.18 billion. Assets came to TL 1,096 billion, while the Bank’s contribution to the Turkish economy through cash and non-cash loans was TL 799.5 billion.

29 Apr 2022

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BBVA posted a net attributable profit of €1.65 billion in the first quarter of 2022 (+36.4 percent yoy at current exchange rates, +41 percent in constant euros), on the back of revenue growth, bolstered by solid activity (+10.6 percent), and improved risk indicators. Between January and March 2022, the Group reported its highest operating income and the highest recurring profit ever. Furthermore, it saw extraordinary progress in the execution of its strategy, with a record quarter in customer acquisition and sustainable financing. The efficiency ratio improved significantly, reaching 40.7 percent, and in terms of profitability, ROTE and ROE improved to 15.9 percent and 15.1 percent, respectively. BBVA maintains a solid capital position, with a fully-loaded CET1 ratio of 12.70 percent.

03 Feb 2022

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BBVA Group posted a recurring profit of €5.07 billion in 2021, the highest of the past ten years, thanks to the positive evolution of revenues and lower loan-loss provisions. Including non-recurring impacts¹, the net attributable profit rose to €4.65 billion, 3.6 times higher than the €1.31 billion registered in 2020. Last year the bank made extraordinary progress in its strategy. In terms of growth it acquired a record of almost nine million new customers. Additionally, the bank continued to create value for its shareholders: the net tangible book value per share plus dividends increased 10.1 percent in the year. BBVA will pay a total dividend per share of €0.31 for 2021, the highest in cash of the past decade.

02 Feb 2022

Garanti BBVA recently released its 2021 results, posting the highest growth in Turkish lira (TL) loans among private banks. The total amount of cash and non-cash loans for the year was TL 609.74 billion, and assets reached TL 849.40 billion. Deposits remained the primary source of funding, representing 69 percent of total assets, or TL 582.26 billion and growth of 63 percent over the year.  Garanti BBVA’s strong capital position remains, with a capital adequacy ratio of 13.98 percent (not including temporary measures taken by Turkey’s financial regulator, the BRSA). The return on average equity (ROAE) was 19.0 percent and the return on average assets (ROAA) was 2.0 percent (excluding one-off items).  The bank’s net income for the year was TL 13.59 billion.

29 Oct 2021

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BBVA Group posted a net attributable profit of €3.31 billion between January and September 2021, compared to a €15 million loss a year earlier. The recurring profit¹ stood at €3.73 billion, up 85 percent from last year. In 3Q21 alone, the attributable profit was €1.4 billion, one of the highest in record. These earnings were possible thanks to the solid performance of the net interest income and fees and commissions, and a better-than-expected evolution of impairments. The Group maintained its solid capital generation capacity (+31 basis points since June), with a fully-loaded CET1 ratio of 14.48 percent at the end of September. This capital strength allows BBVA to carry out a share buyback of up to 10 percent of its share capital, for a maximum amount of €3.5 billion.

27 Oct 2021

Türkiye Garanti Bankası A.Ş., has just reported its financial statements as at 30 September 2021. Based on the consolidated financials, the Bank’s net income in the first 9 months of the year was recorded as TL 9.071,591k. Realized Assets were reported of TL 630,848,420,000and the Bank’s contribution to the economy via cash and non-cash loans was TL 499,840,175k. Focusing on customer happiness, deposits continued to be the main funding source; 68% of assets are funded via deposits. The deposit base reached TL 428,204,119k, with 20% growth in the year’s first 3 quarters. Maintaing the strong capital stance, the bank’s capital adequacy ratio was realized at 15.65% (Except for temporary measures taken by BRSA)(. The Bank delivered an ROAE (Return on Average Equity) of 19.2%** and an ROAA (Return on Average Assets) of 2.2% ( In calculations of average return on assets and average return on capital, one-off items are not included in annualization of net profit.).

30 Jul 2021

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The BBVA Group’s attributable profit reached €2.33 billion between January and June 2021, excluding non-recurring impacts from the results generated by the sale of BBVA USA and the net costs of the restructuring plan in Spain. This figure is 146 percent higher than the one from 1H20 (+183 percent at constant exchange rates). Including these non-recurring impacts, the attributable profit stood at €1.91 billion, a figure that compares very favorably with the €1.16 billion loss recorded in the same period of the previous year amidst the pandemic breakout. These earnings were made possible thanks to revenue strength, particularly those linked to the bank’s core activity (net interest income and fees and commissions), as well as lower impairments vs. 1H20. Following the sale of the U.S. subsidiary, BBVA maintains a solid capital position, with a fully loaded CET1 ratio of 14.17 percent. The Group has also set the date for its Investor Day, on November 18, 2021, an online meeting where it will share its strategy and goals with the investment community.

29 Jul 2021

Türkiye Garanti Bankası A.Ş., announced its financial statements dated 30 June 2021. Based on the consolidated financials, the Bank’s net income in the first 6 months of the year was recorded as TL 5 billion 437 million 136 thousand. Asset size realized at TL 607 billion 787 million 125 thousand and the Bank’s contribution to the economy through cash and non-cash loans was TL 473 billion 179 million 816 thousand.

30 Apr 2021

The BBVA Group obtained a net attributable profit of €1.21 billion in the first quarter of 2021 - a figure that shows a return to levels prior to the outbreak of the COVID pandemic. These results were achieved thanks to strong recurring revenue - despite the complex environment - and lower impairments and provisions compared to those made in the first quarter of 2020 in anticipation of the crisis. “In the first quarter of 2021, we produced positive results in an environment that continues to be very challenging. In a context of profound change in our sector, we continue to move forward in key areas of our strategy: sustainability and digital transformation,” said Onur Genç, CEO of BBVA.

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Following the release of BBVA’s earnings for the first quarter of 2021, BBVA CEO underscored on Friday that the bank “continues to move forward in key areas of its strategy: digitization and sustainability.” In digital transformation, customer transactions taking place on digital channels have more than doubled in just two years. Also, in the first quarter, 69% of sales were done digitally. “I am sure that our digital edge coupled with the advisory capacity of our people will continue to make the difference," he said.