BBVA Earnings 2021

The BBVA Group’s attributable profit reached €2.33 billion between January and June 2021, excluding non-recurring impacts from the results generated by the sale of BBVA USA and the net costs of the restructuring plan in Spain. This figure is 146 percent higher than the one from 1H20 (+183 percent at constant exchange rates). Including these non-recurring impacts, the attributable profit stood at €1.91 billion, a figure that compares very favorably with the €1.16 billion loss recorded in the same period of the previous year amidst the pandemic breakout. These earnings were made possible thanks to revenue strength, particularly those linked to the bank’s core activity (net interest income and fees and commissions), as well as lower impairments vs. 1H20. Following the sale of the U.S. subsidiary, BBVA maintains a solid capital position, with a fully loaded CET1 ratio of 14.17 percent. The Group has also set the date for its Investor Day, on November 18, 2021, an online meeting where it will share its strategy and goals with the investment community.

Following the release of BBVA’s earnings for the first quarter of 2021, BBVA CEO underscored on Friday that the bank “continues to move forward in key areas of its strategy: digitization and sustainability.” In digital transformation, customer transactions taking place on digital channels have more than doubled in just two years. Also, in the first quarter, 69% of sales were done digitally. “I am sure that our digital edge coupled with the advisory capacity of our people will continue to make the difference," he said.