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Economic results

Today

BBVA is a customer-centric global financial services group founded in 1857. The Group operates in more than 30 countries and has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey’s BBVA Garanti.

02 Aug 2019

31 Jul 2019

BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA), reported today net income of $160 million for the second quarter of 2019 compared to earnings of $184 million in the second quarter of 2018. Return on average assets and return on average tangible equity¹ for the second quarter of 2019 were 0.69 percent and 7.34 percent, respectively. Net income for the first six months of 2019 totaled $301 million compared to earnings of $393 million for the first six months of 2018. Return on average assets and return on average tangible equity¹ for the first six months of 2019 were 0.65 percent and 7.00 percent, respectively.

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BBVA CEO Onur Genç stated, “Today we are pleased to present excellent results.” He made the statement after BBVA reported 2Q19 results, announcing a net attributable profit of €1.28 billion, up 10 percent from the previous quarter and 6 percent yoy, excluding the sale of BBVA Chile. “We are once again leaders in terms of profitability, coming out ahead of comparable European peers,” he stressed.

Between January and June 2019, BBVA Group earned €2.44 billion. In the second quarter, the net attributable profit reached €1.28 billion, up 10 percent qoq, and 6 percent yoy, excluding the sale of BBVA Chile, thus maintaining the same business perimeter (or +2.6 percent including Chile). The results were driven by a solid evolution of more recurring revenue items, with a double-digit growth of the net interest income, and lower impairments on financial assets.

30 Jul 2019

07 May 2019

30 Apr 2019

29 Apr 2019

Between January and March 2019, the BBVA Group earned €1.16 billion, down 9.8 percent compared to the same period a year earlier and up 16.2 percent from the previous quarter, at current exchange rates. Excluding BBVA Chile’s Q1-18 earnings from the comparison (the unit was sold in July 2018), the result was 7.7 percent lower (-6.0 percent in constant euros) versus a year ago.

BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income of $141 million for the first quarter of 2019 compared to earnings of $209 million in the first quarter of 2018. Return on average assets and return on average tangible equity* for the first quarter of 2019 were 0.61 percent and 6.64 percent, respectively.

Transformation: BBVA continued to make progress in its transformation, with a clear impact on growth of its customer base, productivity, efficiency and customer experience. Digital unit sales now account for 57 percent of the total and over half of the customers use digital channels to interact with the bank

Efficiency: Positive top-line trends in the P&L account, together with an ongoing focus on cost reduction, led to double-digit growth in operating income compared to the first quarter 2018 in constant euros, and an improvement in the efficiency ratio, which dropped 118 basis points since December, to 48.1 percent

Risk management: The NPL ratio remained at 3.9 percent, while the coverage ratio improved to 74 percent. The cost of risk stood at 1.06 percent

Capital adequacy: The fully-loaded CET1 capital ratio closed the quarter at 11.35 percent, inching closer to the target of 11.5 to 12 percent, fully absorbing IFRS 16 impact
Profitability: BBVA continued to be a leader in profitability, with ROE standing at 9.9 percent, and ROTE at 11.9 percent, well above the average of its European peers

Value creation for the shareholder: The tangible book value plus dividends per share rose 11 percent from a year earlier

Board of Directors: At its meeting today, the Board also approved a series of agreements related to appointments and its committees

27 Feb 2019

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.