The United States
At December 31, 2009, BBVA Puerto Rico managed a loan portfolio of €2,913m, down 9.0% from December 2008. Customer deposits were €1,473m, growing 5.4% from last year. Overall contraction in business volumes, especially lending, produced a 7.5% year-on-year shrinkage in revenues. However, successful cost management, in part, offset this dip at the operating profit line. Operating income reached €74m (down 2.6%), although high loan-loss provisioning resulted in a final loss of €67m.
BTS has processed 26.6 million transfers in 2009, up 6.3% on 2008. Of these, 21.5 million were for Mexico and 5.1 million for other countries. Due to the solid growth of revenues and cost controls, the attributable profit has increased 12.3% to €12 million.