-Income: Positive trends in recurring revenues (NII plus fees and commissions) continued between January and September, boosting gross income to €18.43 billion (+5.1% y-o-y)
-Risks: The Group’s NPL ratio remained stable and stood at 5.1% at the end of September, the same level as in December 2012, while the coverage ratio was 72%
-Capital: BBVA achieved its 2017 capital goal ahead of schedule. The fully-loaded CET1 ratio stood at 11%, with a capital generation of 29 basis points in the quarter
-Transformation: BBVA’s digital customer base stood at 17.2 million (+20% in the past year). Of these, 11 million are mobile customers (+41%)
The BBVA Group earned €2.8 billion between January and September 2016, up 64.3% from the same period a year earlier. Stripping out the impact of corporate operations and currency fluctuations, growth reached 15.0%. Net attributable profit rose to €965 million in the third quarter.
BBVA today reported financial results for the first nine months of 2016. According to BBVA CEO Carlos Torres Vila, “it has been a good quarter, with solid growth in recurring revenues, cost control, and stability in risk indicators. Furthermore, we have already achieved the capital goal we had set for 2017.”
These are the 5 keys to understanding BBVA’s results: