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Economic results

27 Feb 2019

13 Feb 2019

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.

04 Feb 2019

01 Feb 2019

Carlos Torres Vila presented BBVA’s 2018 earnings in his first press conference as chairman of the bank. He stressed that the “positive results” were sustained by recurring revenues, cost containment efforts and the strength of the Group’s diversified business model. During the presentation, he also addressed the news published in some media outlets regarding services provided by Grupo Cenyt. The chairman made appeals not to “prejudge” the alleged news and to let the BBVA investigation “do its job”, which will be conducted with “rigor, diligence, and thoroughness” in order to shed light on the facts. In addition, he made assurances that “BBVA has been, is, and will continue to be an honest bank”

Garanti Bank released its earnings for 2018. Based on its consolidated financials, Garanti’s assets were valued at slightly more than TL 399 billion, and its contribution to the economy through performing cash and non-cash loans totaled just over TL 311 billion. The bank achieved an ROAE (Return on Average Equity) of 15.0 percent and a ROAA (Return on Average Assets) of 1.7 percent.

BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income of $196 million for the fourth quarter of 2018, a 276 percent increase from the $52 million earned during the fourth quarter of 2017. 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, the year-over-year increase in net income for the fourth quarter of 2018 compared to adjusted net income* of $173 million for the fourth quarter of 2017 was 13 percent.

  • Transformation: More than half of BBVA customers are digital, meeting the target set for 2018
  • Income: Operating income grew 6.2 percent at constant exchange rates, thanks to the increase in recurring revenues and cost discipline
  • Risks: BBVA showed strength in risk indicators, with an NPL ratio declining to 3.9 percent, and a coverage ratio of 73 percent
  • Solvency: At the end of December, the fully-loaded CET1 ratio stood at 11.3 percent
  • Shareholder value creation: The tangible book value per share plus dividends grew 10.1 percent in 2018, while the ROE increased to 11.6 percent
  • Dividend: A cash payment in a gross amount of €0.16 per share, to be paid in April as final dividend for 2018, is expected to be proposed for the consideration of the competent governing bodies

30 Oct 2018

At a press conference Carlos Torres Vila released BBVA’s earnings for the January-September 2018 period. The forthcoming decision on who should pay the levy on documenting mortgages loans – banks or the customers – which is due to be made by Spain’s Supreme Court on November 5, was raised during the presentation. In regard to the possibility of the ruling being retroactive, he stated “You can’t penalize those who have followed the law. This is precisely what the principle of legal certainty embodies, which protects us all.”

BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income of $175 million for the third quarter of 2018, a 34 percent increase from the $130 million earned during the third quarter of 2017. Included in third quarter 2017 results is approximately $60 million (pre-tax) of provision expense related to Hurricanes Harvey and Irma. Return on average assets and return on average tangible equity(1) for the third quarter of 2018 were 0.77 percent and 8.35 percent, respectively.

Transformation: Digital and mobile customers as well as digital sales continued to grow across all geographies, with a positive impact on efficiency. Digital customers now account for 49% of the total, very close to the year-end target of having half of the customers banking through digital channels
Income: Operating income improved (+5.8 percent at constant exchange rates), driven by a positive trend in recurring revenues and containment in operating expenses. BBVA’s ROE between January and September was 12.2 percent, with ROTE standing at 14.8 percent
Risks: The NPL ratio was 4.1 percent in September (4.4 percent in June). Coverage ratio reached 73 percent
Capital: Despite a complex environment, the fully-loaded CET1 ratio stood at 11.34 percent. During the first nine months of the year, the tangible book value per share plus dividends grew 7.2 percent to €5.95

25 Oct 2018

Türkiye Garanti Bankası A.Ş., released its earnings report dated September 30, 2018. Based on the consolidated financials, Garanti’s asset size reached TL 456.33 billion, while its contribution to the economy through cash and non-cash loans increased to TL 354.75 billion. The Bank’s ROAE (Return on Average Equity) stood at 17.5% and ROAA (Return on Average Assets) reached 2.0%.

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.