BBVA earns €2,759m in the first half of 2015
Without including the results from corporate operations (CNCB and Catalunya Banc), net income grew 52.9% year-over-year between January and June to €2.03 billion thanks to strong recurring banking revenues.
BBVA shares closed on June 30, 2015 at €8.79 (+11.9% in 2015 and -6.5% since March), outperforming the Euro Stoxx 50, both in the year to date and over the quarter, and also the Ibex 35 since the end of 2014.
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BBVA Group has generated a half-yearly net attributed profit of €2,759m, a figure that is over twice that for the same period the previous year. These earnings include those generated by Catalunya Banc, whose effect is practically neutral at the level of net attributable profit.
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Apart from the execution in April of a new "dividend-option" program in which 90.3% of the shareholders chose the option of receiving bonus shares.
RESULTSBBVA Group has generated a half-yearly net attributable profit
of €2,759m. As already mentioned above, these earnings include
those generated by Cx, whose effect is practically neutral at the
level of net attributable profit.
RISKSIn the first half of 2015 the main variables related to the Group’s credit risk management have been positive. The increase in credit risk and non-performing loans, as well as the performance of the main risk indicators, have been affected by the incorporation of Cx.
SOLVENCYBBVA ended the first half of 2015 with comfortable capital levels
clearly above the minimum regulatory requirements, and a leverage
ratio (fully-loaded) that continues to compare very favorably with
the rest of its peer group.
DIGITAL TRANSFORMATIONAs for the digital transformation, BBVA continued to increase its digital customer base. Customers who interact with the bank digitally totaled 13.5 million at the end of June, of which 7 million are banking through their cell phones. Digital customers increase their interaction with the bank exponentially. For example, in Spain, the annual average number of transactions of a digital customer is eleven times more than that of a traditional one. In turn, this translates into greater digital sales. In the first six months of 2015, the number of new consumer loans through digital channels grew to 17.9% of the total, up from 9.3% in January.
OTHER MATTERS OF INTERESTThe Board of Directors has appointed Carlos Torres Vila as President and COO. It
has also approved an organizational structure whose top priority is to boost the
business and continue to grow profitably, increasing the number of customers
with the focus on their satisfaction. To gain market share, customers and business,
BBVA is committed to investing in new capabilities associated with customer
experience, big data, technology and engineering, marketing and digital sales, and
talent and new digital businesses. BBVA has drawn up a new Code of Conduct to adapt to social, technological
and regulatory changes. It strengthens the Bank’s commitment to its customers,
employees and society as a whole.
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