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Economic results

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.

The BBVA Group earned €1.21 billion in 1Q21, in line with quarterly earnings prior to the pandemic. In the year ago period, BBVA posted a €1.79 billion loss when it recorded a goodwill adjustment in its U.S. subsidiary and higher impairments. This quarter’s result was driven by strong recurring revenue and lower impairments and provisions than in 1Q20. Thanks to these earnings, BBVA generated 15 basis points of capital in the January-March period.

29 Apr 2021

Türkiye Garanti Bankası A.Ş., announced its financial statements dated 31 March 2021. Based on consolidated financials, the Bank’s net income in the first three months of the year were recorded as TL 2.54 billion. Asset size realized at almost TL 569 billion and the Bank’s contribution to the economy through cash and non-cash loans was arround TL 446 billion. Actively managing the funding base, deposits continued to be the main funding source; 65% of assets were funded via deposits.

01 Feb 2021

In a year marked by the pandemic, BBVA produced solid results thanks to its strong income and cost containment measures. The bank's results improved as the year progressed, mainly due to lower provisions in the second half of the year. “In 2020 we achieved excellent results in a year of great complexity. We have also announced a historic transaction for BBVA: the sale of our U.S. subsidiary. An operation that puts us in an unparalleled position of strength in the sector, allowing us to increase shareholder distributions,” said BBVA chairman Carlos Torres Vila.

29 Jan 2021

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Following the release of 4Q20 earnings, BBVA chairman Carlos Torres Vila said on Friday that BBVA’s “excess capital opens the door for extraordinary distributions for our shareholders.” In this sense, he mentioned that the bank “is targeting a buyback of about 10 percent of the Group’s shares, following the closing off the sale of the U.S. subsidiary.”

BBVA earned €1.32 billion between October and December, its highest quarterly result over the past two years. In 2020 BBVA helped three million clients affected by the pandemic, with about €63 billion in government-backed credit lines and loan deferrals. The sale of the U.S. subsidiary will provide some €8.5 billion in capital to grow in a profitable way across its footprint and increase shareholder distributions. BBVA will make a gross cash payment of €0.059 per share against 2020 earnings, and expects to resume its shareholder distribution policy in 2021 with a payout of 35-40 percent of profits. Additionally, the bank is targeting a buyback of about 10 percent of the Group’s shares, after the close of the sale of the U.S. franchise. All this subject to market conditions and the required approvals.

28 Jan 2021

Garanti Bankası A.Ş., announced its financial statements on December 31, 2020. Based on the consolidated financials, in 2020, the bank’s net income recorded was TL 6 billion 385 million 163 thousand. Asset size realized at TL 540 billion 912 million 805 thousand and the bank’s contribution to the economy through performing cash and non-cash loans reached TL 415 billion 799 million 688 thousand.

30 Oct 2020

BBVA´s CEO presented this year´s third quarter results on Friday, October 30. At the press conference, Onur Genç affirmed that BBVA's leadership in transformation has a "true competitive advantage" and reiterated the institution´s focus on organic growth. In the first nine months of 2020, "we have attracted 350,000 clients in Spain", something that is especially relevant in the current context marked by the COVID-19 crisis. "We have shown that we can grow using digital channels in Spain," he said.

BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today net income of $166 million for the third quarter of 2020 compared to a net loss of $124 million in the second quarter of 2020 and net income of $183 million in the third quarter of 2019. Return on average assets and return on average tangible equity(1) for the third quarter of 2020 were 0.63 percent and 7.32 percent, respectively.

The BBVA Group’s results have been improving throughout 2020. The bank earned €1.14 billion in the third quarter (-6.8 percent in current euros, +4.1 percent at constant rates). This result is 79.5 percent higher than this year’s second quarter results in current euros (+83.4 percent at constant rates).  In addition, the strength of recurring revenues and cost containment efforts helped to boost operating income compared to the third quarter of 2019. “Net attributable profit grew significantly in the third quarter compared to previous quarters. This positive performance was the result of our resilient recurrent income, coupled with our focus on cost control and a better evolution of impairments, thanks to the significant provisioning effort in the first half of the year,” said BBVA CEO Onur Genç.

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Following the release of 3Q20 earnings, BBVA CEO Onur Genç underlined on Friday that  "this result shows a more normalized level, in line with previous years." The BBVA executive added  that the €1.14 billion profit “represents a significant increase in the current context, up 79.5 percent vs. 2Q20 and 4.1 percent in constant euros, compared to the same quarter last year.”

BBVA earned €1.14 billion in the third quarter of 2020. It is the best quarterly result of the year and far exceeds the figure for 2Q20 (+79.5 percent in current euros, +83.4 percent at constant rates). Compared to the same period a year earlier, the 3Q20 result is 6.8 percent lower (+4.1 percent at constant rates). The strength of recurring revenues and cost containment efforts drove quarterly operating income to grow 13.5 percent yoy at constant exchange rates. In a challenging context marked by the pandemic, BBVA has shown a solid capacity to generate capital, with risk indicators having a positive performance. BBVA’s quarterly results also beat market expectations by 48 percent, as analysts’ consensus expected a result of €773 million.

28 Oct 2020

Türkiye Garanti Bankası A.Ş., recently reported its financial results as of September 30, 2020. Based on the consolidated financials, the bank’s net income in the first nine months of the year was 5.24 billion Turkish lira. Assets totaled 525.91 billion Turkish lira, and the bank’s contribution to the economy through cash and non-cash loans was 400.38 billion Turkish lira. Deposits continued to be the main source of funding, as 66 percent of assets were funded via deposits.

30 Sep 2020

BBVA is a customer-centric global financial services group founded in 1857. The Group operates in more than 25 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. It is also the leading shareholder in Turkey’s Garanti BBVA.

30 Jul 2020

BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today a net loss of $124 million for the second quarter of 2020 compared to earnings of $160 million in the second quarter of 2019. Included in the second quarter 2020 results is a substantial increase in provision for credit losses, well in excess of net-charge-offs, that reflects the ongoing adverse macroeconomic environment and corresponding forecasts given the COVID-19 pandemic and subsequent impact to certain segments of the loan portfolio.

The BBVA Group earned €636 million in the first half of the year - more than double the results from January through March, excluding the impact of the goodwill adjustment in the U.S. This was possible thanks to the bank’s efforts to anticipate impairments related to the COVID-19 crisis in the first quarter of the year. In a highly complex context due to the pandemic, the BBVA Group has demonstrated the strength of its profit before provisions in the second quarter of 2020, with operating income up 17.6 percent year-on-year in constant euros. “We are facing this crisis from a position of strength, thanks to the resilience of our revenues, our diversified business model and our digital capabilities. Likewise, our solid capital generation stood out during the quarter,” said BBVA CEO Onur Genç.

Thanks to the bank’s efforts to anticipate impairments related to the COVID-19 in 1Q20, BBVA earned €636 million in the second quarter, doubling the underlying profit from the first quarter. This quarterly figure is on top of extraordinary provisions of €644 million due to the pandemic. In a complex environment, BBVA has once again demonstrated the strength of its operating income, which grew 17.6 percent at constant exchange rates, and its outstanding ability to generate capital. In the first half of the year, net attributable profit excluding one-offs was €928 million (-57.8 percent yoy in constant euros). Including the U.S. goodwill adjustment –recorded in 1Q20– the bank swung to a €-1.16 billion loss between January and June.

29 Jul 2020

Turkey’s Garanti BBVA announced its financial results for the first half of the year. Based on the consolidated financials, the bank’s net income in the first six months of the year totaled TL 3.33 billion (approximately €407.61 million). Asset size reached TL 486.67 billion and the bank’s contribution to the economy through cash and non-cash loans was TL 367.14 billion. Actively managing the funding base, deposits continued to be the main source of funding, with 63 percent of assets funded through deposits. The total deposit base reached TL 306.88 billion with 11 percent growth in the first six months of the year. Preserving its strong capital position, the bank’s capital adequacy ratio stood at at 17.4 percent.* The bank’s ROAE (Return on Average Equity) was 13.1 percent and ROAA (Return on Average Assets) was 1.6 percent.