Balance sheet and business activity
The most relevant aspects related to the evolution of the Group's balance sheet and business activity as of March 31, 2020, are summarized below:
- Loans and advances to customers (gross) remained stable compared to December 2019 (up 0.3%), with an increase in the corporate portfolio that offsets the deleveraging in the rest of the portfolios.
- Non-performing loans fell by 4.4% in the quarter mainly due to decreases in Spain.
- Customer deposits remained at the same level as at the end of 2019 (up 0.2%), with a year-on-year increase of 1.7%, strongly supported by the good performance of demand deposits (up 3.0% in the quarter, up 7.9% year-on-year), where customers have deposited the liquidity available to face the pandemic.
- Off-balance sheet funds fell by 10.5% in the quarter (down 6.5% year-on-year) as a result of the negative performance of the markets caused by COVID-19.
- Regarding the intangible assets, during the first quarter of 2020, the United States goodwill has been impaired by €2,084m due to the COVID-19 pandemic, which does neither affect the tangible net equity, nor the solvency, nor liquidity of the BBVA Group.
Consolidated balance sheet (Millions of euros)
| 31-03-20 | ∆% | 31-12-19 | 31-03-19 | |
|---|---|---|---|---|
| Cash, cash balances at central banks and other demand deposits | 49,544 | 11.8 | 44,303 | 50,059 |
| Financial assets held for trading | 127,103 | 23.8 | 102,688 | 92,366 |
| Non-trading financial assets mandatorily at fair value through profit or loss | 5,100 | (8.2) | 5,557 | 5,535 |
| Financial assets designated at fair value through profit or loss | 1,175 | (3.2) | 1,214 | 1,311 |
| Financial assets at fair value through accumulated other comprehensive income | 61,229 | 0.1 | 61,183 | 60,204 |
| Financial assets at amortized cost | 442,831 | 0.8 | 439,162 | 433,008 |
| Loans and advances to central banks and credit institutions | 18,854 | 5.2 | 17,924 | 15,787 |
| Loans and advances to customers | 382,592 | 0.1 | 382,360 | 380,799 |
| Debt securities | 41,385 | 6.5 | 38,877 | 36,421 |
| Investments in subsidiaries, joint ventures and associates | 1,440 | (3.3) | 1,488 | 1,587 |
| Tangible assets | 9,344 | (7.2) | 10,068 | 10,408 |
| Intangible assets | 4,702 | (32.5) | 6,966 | 8,383 |
| Other assets | 28,456 | 9.2 | 26,060 | 28,338 |
| Total assets | 730,923 | 4.6 | 698,690 | 691,200 |
| Financial liabilities held for trading | 113,699 | 26.8 | 89,633 | 80,818 |
| Other financial liabilities designated at fair value through profit or loss | 8,641 | (13.7) | 10,010 | 7,846 |
| Financial liabilities at amortized cost | 533,205 | 3.2 | 516,641 | 520,464 |
| Deposits from central banks and credit institutions | 69,290 | 26.7 | 54,700 | 64,427 |
| Deposits from customers | 385,050 | 0.2 | 384,219 | 378,527 |
| Debt certificates | 64,937 | 1.5 | 63,963 | 62,365 |
| Other financial liabilities | 13,928 | 1.2 | 13,758 | 15,144 |
| Liabilities under insurance and reinsurance contracts | 9,593 | (9.6) | 10,606 | 10,577 |
| Other liabilities | 16,612 | (1.6) | 16,875 | 17,947 |
| Total liabilities | 681,749 | 5.9 | 643,765 | 637,653 |
| Total equity | 49.174 | (10.5) | 54,925 | 53,547 |
| Total liabilities and equity | 730,923 | 4.6 | 698,690 | 691,200 |
| Memorandum item: | ||||
| Guarantees given | 45,478 | (0.8) | 45,952 | 45,831 |
- General note: figures considering the classification of BBVA Paraguay as non-current assets and liabilities held for sale (NCA&L), which are included within the other assets and other liabilities figures, respectively, as of 31-03-20 and 31-12-19.
Loans and advances to customers (Millions of euros)
| 31-03-20 | ∆% | 31-12-19 | 31-03-19 | |
|---|---|---|---|---|
| Public sector | 27,391 | (2.8) | 28,193 | 29,138 |
| Individuals | 167,316 | (4.2) | 174,608 | 171,947 |
| Mortgages | 107,393 | (2.8) | 110,500 | 111,776 |
| Consumer | 35,058 | (3.8) | 36,438 | 36,159 |
| Credit cards | 12,591 | (15.4) | 14,892 | 13,644 |
| Other loans | 12,274 | (3.9) | 12,778 | 10,367 |
| Business | 185,962 | 5.7 | 176,008 | 175,678 |
| Non-performing loans | 15,242 | (4.5) | 15,954 | 16,559 |
| Loans and advances to customers (gross) | 395,911 | 0.3 | 394,763 | 393,321 |
| Allowances (2) | (13,319) | 7.4 | (12,402) | (12,522) |
| Loans and advances to customers | 382,592 | 0.1 | 382,360 | 380,799 |
- (1) Figures considering the classification of BBVA Paraguay as non-current assets and liabilities held for sale (NCA&L), which are included within the other assets and other liabilities figures of the Group consolidated balance sheet, respectively, as of 31-03-20 and 31-12-19.
- (2) Allowances include the valuation adjustments for credit risk during the expected residual life of those financial instruments which have been acquired (mainly originated from the acquisition of Catalunya Banc, S.A.). As of March 31, 2020, December 31, 2019 and March 31, 2019 the remaining amount was €418m, €433m and €520m, respectively.
Loans and advances to customers
(Gross. Billions of euros)
(1) At constant exchange rates: +4.5%.
Customer funds
(Billions of euros)
(1) At constant exchange rates: +1.9%.
Customer funds (Millions of euros)
| 31-03-20 | ∆% | 31-12-19 | 31-03-19 | |
|---|---|---|---|---|
| Deposits from customers | 385,050 | 0.2 | 384,219 | 378,527 |
| Current accounts | 288,773 | 3.0 | 280,391 | 267,614 |
| Time deposits | 88,688 | (8.2) | 96,583 | 104,698 |
| Other deposits | 7,589 | 4.7 | 7,246 | 6,215 |
| Other customer funds | 96,438 | (10.5) | 107,803 | 103,189 |
| Mutual funds and investment companies | 59,507 | (13.3) | 68,639 | 64,928 |
| Pension funds | 34,853 | (4.8) | 36,630 | 35,071 |
| Other off-balance sheet funds | 2,078 | (18.0) | 2,534 | 3,191 |
| Total customer funds | 481,488 | (2.1) | 492,022 | 481,717 |
- (1) Figures considering the classification of BBVA Paraguay as non-current assets and liabilities held for sale (NCA&L), which are included within the other assets and other liabilities figures of the Group consolidated balance sheet, respectively, as of 31-03-20 and 31-12-19.