Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Mercado Continuo Espanol  >  Banco Bilbao Vizcaya Argentaria S.A.    BBVA   ES0113211835

Real-time Quote. Real-time Tradegate - 07/28 08:24:41 pm
5.055 EUR   -3.24%
06:00aDJBANCO BILBAO VI : BBVA SA 2Q 2016 -- Forecast
02:37a BANCO BILBAO VI : BBVA simplifies its management structure - BBVA NE..
07/27 BANCO BILBAO VI : HR New Structure
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Banco Bilbao Vizcaya Argentaria S.A. : BBVA earns ¤1.005 billion in the first quarter

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/25/2012 | 02:25am EDT
  • Rising revenues: BBVA's net interest income increased for the fifth consecutive quarter to €3.6 billion, up 13.3% compared to the first three months of 2011. Growth was spread widely across all geographic regions
  • Generating earnings: net attributable profit in the quarter exceeded €1 billion, demonstrating once again BBVA's ability to generate earnings in a recurring and solid fashion despite a complex environment
  • Strong capital position: organic generation of capital allowed BBVA to meet the recommendations of the European Banking Authority (EBA) ahead of time without resorting to the sale of strategic assets

BBVA's profit for the first quarter of 2012 was €1.005 billion, which is 12.6% less than the same period last year but exceeds that of the two previous quarters. Gross income rose 3.5% to €5.45 billion, supported by firm recurring income in all the regions where the Group operates. The solid ability to generate capital organically was the key factor in achieving early compliance with EBA's recommendations. Risk indicators remained stable for the ninth consecutive quarter.

"These results demonstrate the strength and resilience of our business model, which allows us to navigate the crisis, generating earnings and strengthening our capacity to grow while maintaining dividend payments," BBVA President and Chief Operating Officer Ángel Cano said.

Net interest income, a measure of basic banking business, was highly positive thanks to excellent pricing in all regions and to buoyant activity in emerging markets. This indicator continues its upward trend, rising 13.3% year-over-year to €3.6 billion in the first quarter compared to the same period a year earlier. Additionally, recurring gross income, which excludes net trading income (NTI) and dividend income, continued to climb reaching €5.05 billion (up 12.6% year-over-year). The resilience of these items was assisted by limited rises in costs, which grew slower than recurring income and were mainly related to investments in emerging economies. In the first quarter the Group's workforce increased 2.5% year-over-year to 111,306 employees, the number of ATMs grew 8.2% to 19,007 and branches increased slightly to 7,466. Lastly, recurring operating income (excluding the effect of NTI and dividend income) stood at €2.47 billion, up 15.9% compared to the same period last year.

Prudence and anticipation in risk management kept the indicators stable for the ninth consecutive quarter despite Spain's complex environment. The non-performing asset ratio (NPA) was again 4.0%, improving on the figure of 4.1% a year earlier, and coverage stands at 60%.  Loan-loss and real estate provisions continued to be stable (€1.3 billion in the quarter).

The organic generation of capital means BBVA has met the EBA recommendations (core capital ratio of 9%) ahead of time. This was accomplished without selling strategic assets and without any type of public-sector aid while keeping dividend payments stable. When calculated according to current rules the core capital ratio stands at 10.7%.

In terms of finance requirements BBVA Group enjoys a very comfortable position. Debt redemptions for 2012 and 2013 are already covered and there is ample collateral. BBVA has used funds from the European Central Bank's three-year loans to improve its liquidity structure.

In terms of business activity gross lending to Group customers rose 3.4% year-over-year to €358.51 billion thanks to buoyant business in emerging economies. Total customer funds rose 0.6% to €429.8 billion.

Geographic diversification

The BBVA Group's regional diversification, with special emphasis on emerging economies, was a key factor for the income statement.

Spain's contribution to the income statement was €229 million, down 52.2% year-over-year affected by net trading income (NTI) figures extremely high in the first quarter of 2011 and higher provisioning in the current year. In the declining economic context the favorable management of prices was noteworthy, as were the market share gains in lending and deposits, and the positive evolution of net interest income. The NPA ratio stands at 4.9% and the coverage ratio is 43%.

Eurasia, which includes the investments in China Citic Bank (CNCB) and Garanti, enjoyed vigorous business and growing earnings. Net attributable profit rose 51.7% to €299 million.

In Mexico, BBVA Bancomer consolidated its lead over competitors with a stable risk premium. The franchise contributed €430 million (up 3.6% at constant exchange rates) and it set a new record for quarterly income.

The buoyant activity in South America was reflected in revenues. Gross income grew 18.1% in constant euros to €1.37 billion. The region reported an improvement in efficiency, NPA ratio stood at 2.3%, with a coverage ratio of 141%. Net attributable profit came to €370 million (up 27.1% at constant exchange rates).

In the United States the notable features were the resilience of income and cost control plus a steady improvement in risk indicators. The NPA ratio improved to 3.2%, compared to 3.5% in December and 4.3% in March 2011. Net attributable profit at BBVA's U.S. franchise came to €115 million (up 15.6% at constant exchange rates).

The highlight in Corporate & Investment Banking was the resilience of the Group's wholesale banking results. This is due to its focus on customers and the low-risk business model with a high degree of diversification by region and product. In the first quarter this unit generated net attributable profit of €279 million, down 18.7% at constant exchange rates.


Contact 
Corporate Communications
Tel: (+34) 91 537 53 48
BZA00104@grupobbva.com

About BBVA

BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading euro zone banks in terms of ROE and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BANCO BILBAO VIZCAYA ARGEN
06:00aDJBANCO BILBAO VIZCAYA ARGENTARIA : BBVA SA 2Q 2016 -- Forecast
02:37a BANCO BILBAO VIZCAYA ARGENTARIA : BBVA simplifies its management structure - BBV..
07/27 BANCO BILBAO VIZCAYA ARGENTARIA : HR New Structure
07/27 STAY LOCAL, ACT FAST : tiny Spanish bank offers survival manual for Italian peer..
07/27 BBVA AMBASSADORS : Luis Carrasco, ability to react - BBVA NEWS
07/25 BANCO BILBAO VIZCAYA ARGENTARIA : Boulder police seek suspect in BBVA Compass ba..
07/21 BANCO BILBAO VIZCAYA ARGENTARIA : El Celler de Can Roca unveils Westminster King..
07/20 BANCO BILBAO VIZCAYA ARGENTARIA : Santander set to become new La Liga official s..
07/19 NEW VALUE : Propel makes first lead investment in online 401(K) platform Guideli..
07/19 BANCO BILBAO VIZCAYA ARGENTARIA : BBVA Compass Stadium dons bank's blue logo, bu..
More news
Sector news : Banks - NEC
08:16aDJCENOVUS ENERGY : Records Deep Loss, Despite Operational Improvements
07:30aDJFIFTH THIRD BANCORP : Profit, Revenue Climb
06:57aDJBANCO BRADESCO : Brazil's Banco Bradesco Second-Quarter Net Profit Down 7.6% at ..
06:53aDJBANCO BRADESCO : Brazil's Banco Bradesco 2Q Net BRL4.13 Billion Vs. BRL4.47 Bill..
06:27aDJBNP PARIBAS : Bolstered by Falling Bad Loan Provisions -- 3rd Update
More sector news : Banks - NEC
News from SeekingAlpha
07/22 BBVA mulling thousands more job cuts - Bloomberg
07/18 INSTABILITY IN TURKEY AND BBVA : 20% Of Group Earnings Under Pressure, Dividends..
06/27 HIGH DIVIDEND INVESTING : Winners, Losers, & Opportunities Following The Brexit ..
06/24 Midday Gainers / Losers
06/24 PREMARKET GAINERS / LOSERS AS OF 9 : 10 am
Advertisement
Financials (€)
Sales 2016 24 501 M
EBIT 2016 11 052 M
Net income 2016 3 668 M
Debt 2016 -
Yield 2016 5,82%
P/E ratio 2016 9,29
P/E ratio 2017 7,82
Capi. / Sales 2016 1,38x
Capi. / Sales 2017 1,31x
Capitalization 33 853 M
More Financials
Chart BANCO BILBAO VIZCAYA ARGEN
Duration : Period :
Banco Bilbao Vizcaya Argen Technical Analysis Chart | BBVA | ES0113211835 | 4-Traders
Full-screen chart
Technical analysis trends BANCO BILBAO VIZC...
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 33
Average target price 6,72 €
Spread / Average Target 29%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Carlos Torres Vila Chief Executive Officer
Francisco González Rodríguez Group Executive Chairman
Jaime Saenz de Tejada Pulido Head-Strategy & Finance
Ramón Monell Valls Head-Innovation & Technology
Ricardo Gómez Barredo Head-Global Accounting & Informational Management
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BANCO BILBAO VIZCAYA A..-23.86%37 468
WELLS FARGO & CO-11.70%243 698
JPMORGAN CHASE & CO.-2.57%235 233
INDUSTRIAL AND COML BA..-5.90%224 308
CHINA CONSTRUCTION BAN..-12.11%172 058
BANK OF AMERICA CORP-13.07%150 278
More Results