For yet another year, the bank stood out among comparable European peers for its unique combination of growth of its lending portfolio (14 percent yoy in constant euros), and profitability, with ROTE of 19.7 percent. In 2024 the Group added 11.4 million new customers and channeled €99 billion in sustainable business, reaching the €300-billion¹ goal one year ahead of schedule. Between January and December, BBVA posted a net attributable profit of €10.1 billion, up 25 percent. Earnings per share² saw a higher increase, 28 percent, on the back of a share buyback. Against 2024 earnings, BBVA will pay a cash dividend of €0.70 per share³, 27 percent more than in 2023, and will execute a new share buyback program for €993 million⁴. In total, BBVA will distribute €5.03 billion to its shareholders.
BBVA Earnings 2024
BBVA Earnings 3Q24
The BBVA Group earned a record €7.62 billion from January through September, up 28 percent yoy (+44 percent at constant exchange rates). Of this figure, €2.63 billion are from 3Q24 (+26 percent). Earnings per share grew even higher (+32 percent), to €0.44 on the back of share buyback programs over the past 12 months. Greater lending activity (+11 percent in constant euros) drove these results. Profitability (ROTE) rose to 20.1 percent, with a solid capital position (CET1 fully loaded of 12.84 percent). Furthermore, the efficiency ratio improved to a record of 38.9 percent. BBVA continues to generate value for shareholders: the tangible book value plus dividends per share increased by 16 percent yoy.
BBVA Earnings 2Q24
BBVA posted a net attributable profit of €4.99 billion through June 2024, up 29 percent yoy (37 percent in constant euros). Profit in 2Q24 rose 38 percent compared to the same period a year earlier (37 percent in constant euros), reaching €2.79 billion, on the back of strong activity. Lending grew by 10.7 percent yoy in constant euros, with a notable contribution from corporate loans. Furthermore, BBVA boosted the value creation for its shareholders, with a 20 percent annual increase of the tangible book value plus dividends per share. Profitability (ROTE) reached an outstanding 20 percent and the efficiency ratio stood at 39.3 percent, an all-time best.