In 2017, the BBVA Group generated a net attributable profit of €3.52 billion (+1.3%). Without taking into account the impairment losses from Telefónica, net profit for 2017 stood at €4.64 billion, up 19.7% compared to 2016 results, excluding the provisions related to ‘floor clauses’ in Spain. Record revenue and cost containment efforts in operating expenses were the main drivers of this result.
More than half of BBVA customers in Turkey, Spain, USA, Argentina, Chile and Venezuela are already digital. As a whole, the digital customer base grew 25% in the year (to 22.6 million), while mobile customers grew 44% (to 17.7 million)
Income reached record highs in 2017. Recurring revenue grew 4.1% y-o-y, (+10.3% excluding currency impact), and expenses dropped 2.3% in the year (+2.2% at constant exchange rates), boosting operating income to €12.77 billion
The NPL ratio continued to improve, reaching 4.4% (vs. 4.9% in December 2016), its lowest level since June 2012. Coverage at year-end stood at 65%
The fully-loaded CET1 ratio stood at 11.1% at the end of December, above BBVA’s target
A cash payment in the gross amount of €0.15 per share, to be paid in April as final dividend for 2017, is expected to be proposed for the consideration of the competent governing bodies