A swap is an agreement for a financial exchange in which one of the two parties promises to make, with an established frequency, a series of payments, in exchange for receiving another set of payments from the other party. These flows normally respond to interest payments based on the nominal amount of the swap.
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.
Digitization is primarily an English term. According to a report, the U.S. and U.K. are the countries whose economies are the most prepared for a fourth industrial revolution.
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%.
BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today net income of $130 million for the third quarter of 2017, an 8 percent increase from the $120 million earned during the third quarter of 2016. 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 2017 were 0.59 percent and 6.40 percent, respectively.
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.
Today BBVA announced financial results for the nine first months of 2017. “Quarter after quarter, BBVA keeps posting solid, recurring and sustainable results,” said CEO Carlos Torres Vila. What figures explain this solidity? Here are the six more noteworthy: