- Income: Recurring revenues and NTI results drove gross income up by double-digit y-o-y rates (+10.3%, +15% in constant terms). This, combined with cost containment efforts, helped to further improve the efficiency ratio below 50%
-Risks: The Group’s NPL ratio stood at 4.8% at the end of the quarter, compared to 4.9% in December; coverage increased slightly to 71%
-Capital: BBVA achieved a fully-loaded CET1 ratio of 11.01%, in line with the goal for 2017, gaining 11 basis points in the quarter
-Transformation: As of the end of March, BBVA’s digital customer base came to 19.3 million (+20% y-o-y). Of these, 13.5 million were mobile customers (+41%)
Following the publication of first quarter results, BBVA CEO Carlos Torres Vila today said that net attributable profit from January through March increased by 69%, to €1.2 billion. “This is the highest level of profit of the past seven quarters,” he said. This has been possible thanks to income growth, lower impairments on financial assets and exemplary cost containment practices. Also, the capital generation during the quarter was very notable.