BBVA Shareholder Report - Earnings 2015

BBVA earns 1,536 million euros in the first quarter of 2015

During the first half of 2014, there has been a global environment of recovery in advanced economies, which enhance its contribution to global growth

The BBVA Share

In the first quarter of 2015, the global economy continued to show differences between geographical areas, with better relative performance in developed economies compared with the gradual slowdown in China and moderate activity in other emerging regions. This is taking place in a scenario of some geopolitical tensions, an absence of inflationary pressures and diverging monetary policies.

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Group Earnings

The BBVA Group’s earnings grew sharply in the first quarter.

The net attributable profit for the quarter stands at €1,536m, well above the €624m reported for the same period the previous year. Net income from ongoing operations grew year-on-year by 42.0%.

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Shareholder remuneration

There was a new bonus share issue in April to implement the "dividend option". On this occasion, the holders of 90.3% of the free allocation rights chose to receive new shares, which once more demonstrates the success of this remuneration system.

News highlights

BBVA's solidarity campaign raises over 3 million euros
BBVA Research: "The economy will grow 2.7% in 2015 and could create a million jobs in two years"

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Trimestral Keys

RESULTS
The BBVA Group’s earnings grew sharply in the first quarter. Excluding Venezuela, gross income increased 16.2% year-over-year, to €5.54 billion, and operating income was the highest of the last nine quarters.

RISKS
loan quality continued to improve, with NPL ratio of 5.6% at the end of March (versus 5.8% in December and 6.6% in March 2014) and coverage of 65%.

CAPITAL ADEQUACY
BBVA boasted a high-quality, solid capital position, with CET1ratios of 12.7% (phased-in) and 10.8% (fully-loaded) at the close of the quarter.

DIGITAL TRANSFORMATION
The bank accelerated its sales via mobile and the digitization of its client base. Including Garanti, it had 12.9 million digital customers, of which 6.4 million operate via mobile. BBVA is number one in customer satisfaction in Spain, both in mobile and online banking.

CATALUNYA BANC
Following the acquisition, BBVA becomes Spain’s leading financial institution and adds 1.5 million clients.

Shareholder Report
January-march 2015