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Trading account 31 Jul 2019

Onur Genç: "BBVA is once again a leader in terms of profitability”

BBVA CEO Onur Genç stated, “Today we are pleased to present excellent results.” He made the statement after BBVA reported 2Q19 results, announcing a net attributable profit of €1.28 billion, up 10 percent from the previous quarter and 6 percent yoy, excluding the sale of BBVA Chile. “We are once again leaders in terms of profitability, coming out ahead of comparable European peers,” he stressed.

Onur Genç also pointed out that. “We continue to see positive dynamics in our business: net interest income is growing at a rate above 10 percent, in constant euros, compared to the first six months of last year, and the efficiency indicators continue to improve, once again, ahead of our European peers.”

All this, BBVA’s CEO underscored, “occurred despite a complex macroeconomic environment; our risk indicators continue to improve, and we have maintained a very strong capital situation, with a ratio that has reached 11.52 percent, thus reaching our capital target earlier than expected. In addition, our shareholder value creation clearly stands out. All of this is driven by our diversified business model.

Regarding the Group’s transformation, Onur Genç stated, “We continue to move forward with our digital transformation, which has a clear impact on the growth of the customer base, advances in efficiency, and customer experience.”

In the same vein, the CEO explained that “digital sales this quarter represented 58 percent of the total. We are also approaching our goal of having 50 percent of our customers using their smartphones to interact with the bank, having reached 48 percent in June 2019.”

Lastly, Onur Genç concluded that it has been “an excellent semester during which we have continued to create opportunities for our customers and employees and value for our shareholders, while also contributing to society.”

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