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Economic results

06 Sep 2018

BBVA is a customer-centric global financial services group founded in 1857. Its purpose is to bring the age of opportunity to everyone. This motto reflects the bank’s role as enabler, offering its customers the best banking solutions, helping them make the best financial decisions and making a true difference in their lives. We live in the era of opportunities, where technology offers universal access to education and offers many more people than ever before the possibility of embarking on projects and chasing their dreams. BBVA helps people make their dreams come true.

30 Jul 2018

27 Jul 2018

In the presentation of its results to the media, BBVA’s CEO Carlos Torres Vila emphasized the bank’s “strong push to business digitization not only drives sales but is fundamental to cost control.” This “digital push” is driving total revenues while keeping costs down. As a whole, this allows efficiency to continue to improve. In fact, the efficiency ratio stood at 49.2 percent as of June, 82 basis points below the figure for 2017 at constant exchange rates.

BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income of $184 million for the second quarter of 2018, a 17 percent increase from the $157 million earned during the second quarter of 2017. Return on average assets and return on average tangible equity(1) for the second quarter of 2018 were 0.83 percent and 9.05 percent, respectively.

Net income for the first six months of 2018 totaled $393 million, an increase of 41 percent from the $278 million earned during the first six months of 2017. Return on average assets and return on average tangible equity(1) for the first six months of 2018 were 0.90 percent and 9.77 percent, respectively.

Türkiye Garanti Bankası A.Ş. announced its financial statements for the first half to June 30, 2018. On a consolidated financial basis, in the first six months of 2018, Garanti had assets of TL384.878 billion, while its contribution to the economy through cash and non-cash loans increased to TL319.244 billion. The Bank’s ROAE (Return on Average Equity) was 18.1 percent and ROAA (Return on Average Assets) 2.1 percent.

BBVA today released its second quarter 2018 financial results. What were the key figures? To begin with, the bank is close to meeting its goal of having 50 percent of its total customer base made up of digital customers. Customer digitization drives sales through digital channels, propels total sales and improves efficiency. BBVA CEO Carlos Torres Vila said,  “We were off to a very good start of 2018 last quarter, and this quarter we’ve managed to achieve some excellent results.”

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Following the release of BBVA’s Q2-18 earnings, BBVA CEO Carlos Torres Vila said today that the quarter’s net attributable profit stood at €1.31 billion, bringing the total for the first six months of the year to €2.65 billion, up 15 percent from the same period a year earlier. “We were off to a very good start of 2018 last quarter, and this quarter we’ve managed to achieve some excellent results, despite the uncertainty surrounding some of the markets in which we operate,” he said.

  • Transformation: At the end of June, BBVA’s digital customer base stood at 25.1 million (+26 percent yoy). Of these, 20.7 million were mobile customers (+43 percent yoy). Digital sales increased in H1-18 and now account for 39 percent of total sales. All this contributed to strengthen recurring banking revenues and to keep efficiency at 49.2 percent
  • Income: Solid trends in recurring revenues and cost containment efforts drove operating income growth in the first six months of 2018 (+6.8 percent in constant terms). Profitability has also improved significantly. ROE stood at 11.7 percent, while ROTE was 14.3 percent
  • Risks: Risk indicators continued to perform robustly. At the end of June, the NPL ratio stood at 4.4 percent, with coverage of 71 percent
  • Capital: A pro-forma fully-loaded CET ratio of 11.40 percent was reached in June. It includes the sale of BBVA Chile (finalized in July) and the Cerberus agreement to reduce its exposure to the real estate business. The tangible book value per share grew in the quarter

30 Apr 2018

27 Apr 2018

BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income of $209 million for the first quarter of 2018 compared to $52 million in the fourth quarter of 2017 ($173 million(1) adjusted for the impact of the Tax Cuts and Jobs Act) and $121 million earned during the first quarter of 2017. Earnings in the quarter represented a 20 percent increase from adjusted earnings(1) in the fourth quarter and a 73 percent increase from year ago levels. Return on average assets and return on tangible equity(2) for the first quarter of 2018 were 0.96 percent and 10.51 percent, respectively.

BBVA posted a net attributable profit of €1.34 billion between January and March 2018, up 11.8 percent compared to the same period of 2017 (+22.3 percent in constant terms) and the highest quarterly result in the past three years. During Q1-18, BBVA Group’s net attributable profit grew across all regions year-on-year. A solid performance of recurring revenues, moderation in operating expenses and the drop in impairment losses on financial assets and provisions were the main drivers supporting this growth.

  • Transformation: Digital sales grew in all regions and accounted for 37 percent of total in Q1-18. Clients banking through digital channels rose 25 percent yoy, while those using mobile devices grew 43 percent. Such exponential growth contributed to the strength of recurring revenues, and the efficiency ratio reached its best reading since June 2012
  • Income: Driven by strong recurring revenues and cost containment efforts, the operating income grew 5.1 percent yoy in constant terms
  • Risks: Risk indicators continued to perform positively. At the end of March, the NPL ratio stood at 4.4 percent, with coverage of 73 percent
  • Capital: BBVA’s pro forma fully-loaded CET1 ratio -including the already announced agreements of BBVA Chile and Cerberus, which are to be concluded later this year- stood at 11.47 percent at the end of March

26 Apr 2018

Türkiye Garanti Bankası A.Ş., announced its financial statements dated March 31, 2018. Based on the consolidated financials, in the 3 months period of 2018, Garanti’s asset size reached TL 359 billion 882 million, its contribution to the economy through loans and non-cash lending reached to TL 298 billion 250 million 713 thousand. The Bank delivered an ROAE (Return on Average Equity) of 18.3% and ROAA (Return on Average Assets) of 2.2%.

20 Apr 2018

02 Feb 2018

01 Feb 2018

BBVA’s digital customers are increasing in number, are more satisfied and interact more with the bank. In fact, the bank has reached its digital tipping point, at which more than 50 percent of its customers are using the bank’s digital channels in six countries (Spain, the United States, Turkey, Argentina, Chile and Venezuela). It’s a milestone that foreseeably will be reached this year by more of the countries where BBVA operates. Indeed in Davos last week, BBVA Group Executive Chairman Francisco González predicted the Group’s customer base as a whole will pass the 50 percent tipping point in 2018.

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Attributable profit

In 2017, the BBVA Group generated a net attributable profit of €3.52 billion (+1.3%). Without taking into account the impairment losses from Telefónica, net profit for 2017 stood at €4.64 billion, up 19.7% compared to 2016 results, excluding the provisions related to ‘floor clauses’ in Spain. Record revenue and cost containment efforts in operating expenses were the main drivers of this result.

BBVA Compass Bancshares, Inc., (BBVA Compass), reported today net income of $52 million for the fourth quarter of 2017, a 42 percent decrease from the $89 million earned during the fourth quarter of 2016. Included in fourth quarter 2017 results is income tax expense of approximately $121 million related to the revaluation of net deferred tax assets at the lower statutory tax rate mandated by the Tax Cuts and Jobs Act (non-cash charge). Excluding the impact of this item, adjusted net income(1) for the quarter was $173 million, a 33 percent increase from third quarter 2017 and a 94 percent increase from the fourth quarter 2016.

Net income for full-year 2017 totaled $461 million, an increase of 24 percent from the $372 million earned during the full-year of 2016. Excluding the impact of the non-cash charge, adjusted net income for the full-year 2017 was $582 million, up 57 percent.

In 2017, the BBVA Group generated a net attributable profit of €3.52 billion (+1.3%). Without taking into account the impairment losses from Telefónica, net profit for 2017 stood at €4.64 billion, up 19.7% compared to 2016 results, excluding the provisions related to ‘floor clauses’ in Spain. Record revenue and cost containment efforts in operating expenses were the main drivers of this result.

  • Transformation: More than half of BBVA customers in Turkey, Spain, USA, Argentina, Chile and Venezuela are already digital. As a whole, the digital customer base grew 25 percent in the year (to 22.6 million), while mobile customers grew 44 percent (to 17.7 million)
  • Record revenues: Income reached record highs in 2017. Recurring revenue grew 4.1 percent y-o-y, (+10.3percent excluding currency impact), and expenses dropped 2.3 percent in the year (+2.2 percent at constant exchange rates), boosting operating income to €12.77 billion
  • Risks: The NPL ratio continued to improve, reaching 4.4 percent (vs. 4.9 percent in December 2016), its lowest level since June 2012. Coverage at year-end stood at 65 percent
  • Capital: The fully-loaded CET1 ratio stood at 11.1 percent at the end of December, above BBVA’s target
  • Dividend: A cash payment in the gross amount of €0.15 per share, to be paid in April as final dividend for 2017, is expected to be proposed for the consideration of the competent governing bodies

25 Jan 2018

15 Nov 2017

30 Oct 2017

Market analysts have given positive reviews to BBVA’s third quarter 2017 results, which in many cases surpassed prior forecasts. In their reports, the analysts underscored the performance of expenditures and provisions below forecasts. BBVA´s businesses in Spain, Turkey and South America all surprised analysts with their good performance. 

27 Oct 2017

Türkiye Garanti Bankası A.Ş., announced its financial statements dated September 30, 2017. With an asset size of TL 339 billion 679 million 127 thousand, Garanti’s contribution to the economy through cash and non-cash lending reached TL 274 billion 87 million 604 thousand, based on the consolidated financials. The Bank posted a net income of TL 4 billion 685 million 989 thousand in the first 9 months of 2017. The Bank delivered an ROAE (Return on Average Equity) of 17.4% and an ROAA (Return on Average Assets) of 2.0%.

Every quarter, BBVA rolls out new products and functionalities, delivering new amazing experiences for its mobile and online customers to enjoy. By year end, the bank expects that about 92% of its current product portfolio will be available on its digital channels in Spain, as well as to be able to continue making progress in its other franchises. BBVA CEO Carlos Torres Vila explained how this effort is having an “impressive impact”, as evidenced by the exponential rate at which digital sales are growing. Digital sales account for about one fourth of the bank’s total, with more than 3.5 million units sold between July and September.

The BBVA Group posted a net attributable profit of €3.45 billion during the first nine months of 2017, nearly equal to its profit for the whole of 2016 and an increase of 23.3% from the same period a year earlier (+28.7% at constant exchange rates). A solid performance in terms of recurring income, cost containment and a drop in impairment losses on financial assets were the main factors driving this growth.

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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.”

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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”.

  • Operating income: Recurring revenues continued their upward trend, growing 4.2% between January and September. This, together with cost containment efforts (expenses dropped 1.7% in the year to September), drove operating income to a record €9.52 billion
  • Risks: The NPL ratio continued to improve, reaching 4.5% in September (vs. 4.8% in June), the lowest level in the past five years. Coverage increased to 72%
  • Capital: The fully-loaded CET1 ratio rose to 11.2% in September, reflecting a capital generation of 30 basis points in the first nine months of the year
  • Transformation: The digital customer base grew 24% y-o-y to 21.1 million in September. Of these, the number of customers banking with their smartphones surged 43% to 15.8 million

24 Oct 2017

18 Sep 2017

30 Aug 2017

After barreling into the state of Texas, as one of the largest and most damaging Hurricanes in U.S history, Hurricane Harvey continues to devastate the Corpus Christi-Houston-Galveston area with catastrophic destruction, human losses, and unprecedented flooding.

As the region begins to pick up the pieces in the weeks, months and years to come, there is a growing concern about the impact that Hurricane Harvey will have on the regional and national economy.

28 Jul 2017

Market analysts have positively evaluated the half-year results BBVA presented yesterday. The general opinion is that BBVA Group reported solid results that confirm its ability to generate strong rates of growth throughout 2017. The results were better than expected in the principal income statement categories and business areas.

27 Jul 2017

Between January and June 2017, BBVA Group posted a net attributable profit of €2.31 billion, up 25.9% from the same period a year earlier (+30.8% in constant terms). The solid performance of recurring revenues, moderation in operating expenses and a drop in impairment losses on financial assets are the main factors that supported this growth.

BBVA presented today its financial statements for the April-June 2017 period. BBVA CEO Carlos Torres Vila said that “the second quarter results confirm the positive trends recorded earlier this year, both in terms of financial results and of transformation and value creation for shareholders.”

How did the bank do during these three months? And what about during the first half of the year? These are the keys to understanding the results:

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BBVA CEO Carlos Torres Vila explained today, after the publication of the earnings report for the first quarter of 2017, that the Group’s net attributable profit from January through June increased by 26%, to €2.31 billion. This has been possible thanks to the solid performance of revenues, moderation in operating expenses and a drop in impairment losses on financial assets. On top of that, all countries have performed well.

  • Income: Net interest income reached a seven-quarter high in Q2. In the year to June, this item, plus fees and commissions, grew 5.1% y-o-y. This, combined with cost-containment efforts, helped keep the efficiency ratio at levels below 50%
  • Risks: The Group’s NPL ratio stood at 4.8% at the end of the quarter, compared to 4.9% in December; coverage stood at 71%
  • Capital: BBVA remained in line with its fully-loaded CET1 target (11%). It added 20 basis points in the first two quarters and increased the ratio to 11.10%. This ratio includes the negative impact related to the March purchase of an additional 9.95% stake in Turkey’s Garanti
  • Transformation: As of the end of June, BBVA’s digital customer base came to 19.9 million (+22% y-o-y). Of these, 14.5 million were mobile customers (+42% y-o-y). BBVA’s mobile banking app in Spain is the best in the world, according to Forrester Research