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, 2022 are summarized below:
- Loans and advances to customers recorded a growth of 5.0% compared to the end of December 2021, strongly favored by the evolution of business loans (+7.7%) in all business areas and, to a lesser extent, by the dynamism of retail loans, especially in Mexico and South America (+2.7% at Group level), supported by the good performance of both consumer loans and credit cards (+5.0% overall at Group level) and mortgage loans (+1.4% at Group level).
- Customer funds showed an increase of 2.2% compared to the end of December 2021, thanks to the contribution of demand deposits (+2.8%) and, to a lesser extent, of time deposits (+5.7%). For its part, off-balance sheet funds remained stable in the quarter.
CONSOLIDATED BALANCE SHEET (MILLIONS OF EUROS)
| 31-03-22 | ∆% | 31-12-21 | 31-03-21 | |
|---|---|---|---|---|
| Cash, cash balances at central banks and other demand deposits | 70,937 | 4,6 | 67,799 | 54,950 |
| Financial assets held for trading | 112,131 | (9.2) | 123,493 | 98,275 |
| Non-trading financial assets mandatorily at fair value through profit or loss | 6,625 | 8.9 | 6,086 | 5,488 |
| Financial assets designated at fair value through profit or loss | 1,036 | (5.1) | 1,092 | 1,110 |
| Financial assets at fair value through accumulated other comprehensive income | 65,103 | 7.7 | 60,421 | 72,771 |
| Financial assets at amortized cost | 388,031 | 4.1 | 372,676 | 363,754 |
| Loans and advances to central banks and credit institutions | 16,750 | (11.6) | 18,957 | 16,963 |
| Loans and advances to customers | 335,016 | 5.0 | 318,939 | 310,683 |
| Debt securities | 36,265 | 4.3 | 34,781 | 36,108 |
| Investments in subsidiaries, joint ventures and associates | 911 | 1.2 | 900 | 1,416 |
| Tangible assets | 7,375 | 1.1 | 7,298 | 7,703 |
| Intangible assets | 2,224 | 1.2 | 2,197 | 2,297 |
| Other assets | 21,471 | 2.6 | 20,923 | 109,165 |
| Total assets | 675,842 | 2.0 | 662,885 | 716,929 |
| Financial liabilities held for trading | 85,960 | (5.7) | 91,135 | 78,477 |
| Other financial liabilities designated at fair value through profit or loss | 9,761 | 0.8 | 9,683 | 9,714 |
| Financial liabilities at amortized cost | 504,480 | 3.4 | 487,893 | 475,813 |
| Deposits from central banks and credit institutions | 73,161 | 8.9 | 67,185 | 74,123 |
| Deposits from customers | 360,716 | 3.1 | 349,761 | 331,064 |
| Debt certificates | 53,540 | (4.0) | 55,763 | 57,418 |
| Other financial liabilities | 17,063 | 12.4 | 15,183 | 13,208 |
| Liabilities under insurance and reinsurance contracts | 11,094 | 2.1 | 10,865 | 10,325 |
| Other liabilities | 16,289 | 12.0 | 14,549 | 91,889 |
| Total liabilities | 627,585 | 2.2 | 614,125 | 666,218 |
| Non-controlling interests | 5,258 | 8.3 | 4,853 | 5,396 |
| Accumulated other comprehensive income | (16,467) | (0.1) | (16,476) | (14,718) |
| Shareholders’ funds | 59,467 | (1.5) | 60,383 | 60,033 |
| Total equity | 48,258 | (1.0) | 48,760 | 50,711 |
| Total liabilities and equity | 675,842 | 2.0 | 662,885 | 716,929 |
| Memorandum item: | ||||
| Guarantees given | 48,891 | 6.4 | 45,956 | 43,110 |
- General note: the "Other assets" and "Other liabilities" figures as of 31-03-21 mainly include the non-current assets and liabilities held for sale related to BBVA USA and the rest of the companies sold to PNC on June 1, 2021.
LOANS AND ADVANCES TO CUSTOMERS (MILLIONS OF EUROS)
| 31-03-22 | ∆% | 31-12-21 | 31-03-21 | |
|---|---|---|---|---|
| Public sector | 20,517 | 4.4 | 19,656 | 18,895 |
| Individuals | 150,366 | 2.7 | 146,433 | 144,523 |
| Mortgages | 92,598 | 1.4 | 91,324 | 91,438 |
| Consumer | 32,845 | 5.9 | 31,026 | 30,082 |
| Credit cards | 13,326 | 3.0 | 12,936 | 11,721 |
| Other loans | 11,597 | (4.0) | 11,146 | 11,282 |
| Business | 160,819 | 7.7 | 149,309 | 144,516 |
| Non-performing loans | 14,731 | 0.5 | 14,657 | 14,933 |
| Loans and advances to customers (gross) | 346,434 | 5.0 | 330,055 | 322,866 |
| Allowances (1) | (11,417) | 2.7 | (11,116) | (12,183) |
| Loans and advances to customers | 335,016 | 5.0 | 318,939 | 310,683 |
- (1) 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, 2022, December 31, 2021 and March 31, 2021 the remaining amount was €245m and €266m and €334m, respectively.
The evolution of loans and advances to customers and the customer funds of the BBVA Group as of March 31 and December 31, 2021 and March 31, 2022 is shown below. For a more homogeneous comparison, the balances as of March 31, 2021 exclude BBVA USA and the rest of the companies in the United States sold to PNC on June 1, 2021.
LOANS AND ADVANCES TO CUSTOMERS
(BILLIONS OF EUROS)
(1) At constant exchange rates: +3.9%.
CUSTOMER FUNDS
(BILLIONS OF EUROS)
(1) At constant exchange rates: +1.2%.
CUSTOMER FUNDS (MILLIONS OF EUROS)
| 31-03-22 | ∆% | 31-12-21 | 31-03-21 | |
|---|---|---|---|---|
| Deposits from customers | 360,716 | 3.1 | 349,761 | 331,064 |
| Current accounts | 301,333 | 2.8 | 293,015 | 260,988 |
| Time deposits | 58,170 | 5,7 | 55,059 | 69,144 |
| Other deposits | 1,213 | (28.1) | 1,687 | 932 |
| Other customer funds | 147,244 | 0.0 | 147,192 | 134,483 |
| Mutual funds and investment companies and customer portfolios(1) | 106,323 | 0.1 | 106,235 | 95,396 |
| Pension funds | 38,460 | (0.8) | 38,763 | 37,189 |
| Other off-balance sheet funds | 2,461 | 12.1 | 2,195 | 1,899 |
| Total customer funds | 507,961 | 2.2 | 496,954 | 465,547 |
- (1) Includes the customer portfolios in Spain, Mexico, Colombia and Peru.