Following the publication of the Group’s 2016 annual results, BBVA Executive Chairman Francisco González said today that the most important thing is that BBVA has made tremendous progress in its transformation journey, which consists of achieving six Strategic Priorities.
– 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
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