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Finance

Finance

The BBVA Group earned €3.48 billion in 2016, up 31.5% from the previous year and its highest figure since 2010. Solid performance of recurring revenues, moderation in operating expenses, and a drop in impairment losses on financial assets are the key drivers of this growth.

- Income: Net interest income increased 3.9% in 2016 (+14.9% stripping out the impact of currencies). The fourth quarter was the year’s highest (€4.39 billion). Cost-containment efforts improved the efficiency ratio (51.9% in 2016)

- Risks: BBVA Group’s NPL ratio improved to 4.9% in December (from 5.4% at the end of 2015), with coverage ratio of 70%

- Capital: BBVA reached a fully-loaded CET1 ratio of 10.90%, after generating 58 basis points in the year. The Group maintains its 11% target for 2017

- Transformation: At the end of December 2016, BBVA’s digital customer base stood at 18.4 million (+20% y-o-y). Mobile customers grew 38% to 12.4 million

- Dividend: BBVA plans to implement the shareholder remuneration policy announced in 2013, which aims to distribute between 35% and 40% of profits to dividend payouts, with a 100% cash dividend

Global Finance has chosen the BBVA Group as the winner of five awards during the latest issue of its “World's Best Treasury & Cash Management Banks and Providers Awards”. Specifically, the Group was given the following awards: "Best Treasury & Cash Management Provider" in Spain, "Best Overall Bank for Cash Management" in Latin America, "Best Bank for Payments and Collections" in Latin America, "Best US regional middle market Treasury & Cash Management Provider" in Southwest Region, and "Best Treasury & Cash Management Provider" for Garanti in Turkey.

Amid the regulatory tsunami hitting banks, financial institutions are especially interested in a new European regulation that will come into effect starting January 1, 2018. It’s Directive 2014/65/EU on markets in financial instruments - also known as MIFID II.