Balance sheet and business activity
The most relevant aspects related to the evolution of the Group's balance sheet and business activity as of September 30, 2022 are summarized below:
- Loans and advances to customers grew by 13.4% compared to the end of December 2021, strongly favored by the evolution of corporate loans (+20.9%) in all business areas and, to a lesser extent, by the dynamism of retail loans (+8.2% at Group level), in particular, in Mexico and South America, supported by the good performance of consumer loans, credit cards (+20.3% overall at Group level) and mortgage loans (+2.7% at Group level and flat in the quarter).
- Customer funds increased by 8.7% compared to the end of December 2021, thanks to the contribution of demand deposits (+7.4%) and time deposits (+32.6%), showing an outstanding growth in the quarter. For its part, off-balance sheet funds increased by 2.3% in the first nine months of 2022 with more notable growth in investment funds and managed portfolios.
CONSOLIDATED BALANCE SHEET (MILLIONS OF EUROS)
30-09-22 | ∆% | 31-12-21 | 30-09-21 | |
---|---|---|---|---|
Cash, cash balances at central banks and other demand deposits | 88,076 | 29.9 | 67,799 | 63,232 |
Financial assets held for trading | 119,966 | (2.9) | 123,493 | 106,505 |
Non-trading financial assets mandatorily at fair value through profit or loss | 7,290 | 19.8 | 6,086 | 5,874 |
Financial assets designated at fair value through profit or loss | 978 | (10.4) | 1,092 | 1,137 |
Financial assets at fair value through accumulated other comprehensive income | 62,524 | 3.5 | 60,421 | 69,963 |
Financial assets at amortized cost | 425,854 | 14.3 | 372,676 | 370,217 |
Loans and advances to central banks and credit institutions | 22,797 | 20.3 | 18,957 | 18,237 |
Loans and advances to customers | 361,731 | 13.4 | 318,939 | 316,499 |
Debt securities | 41,326 | 18.8 | 34,781 | 35,481 |
Investments in subsidiaries, joint ventures and associates | 903 | 0.2 | 900 | 880 |
Tangible assets | 8,567 | 17.4 | 7,298 | 7,291 |
Intangible assets | 2,211 | 0.6 | 2,197 | 2,271 |
Other assets | 22,312 | 6.6 | 20,923 | 21,891 |
Total assets | 738,680 | 11.4 | 662,885 | 649,261 |
Financial liabilities held for trading | 104,534 | 14.7 | 91,135 | 80,786 |
Other financial liabilities designated at fair value through profit or loss | 10,678 | 10.3 | 9,683 | 9,726 |
Financial liabilities at amortized cost | 544,719 | 11.6 | 487,893 | 481,662 |
Deposits from central banks and credit institutions | 84,196 | 25.3 | 67,185 | 71,507 |
Deposits from customers | 389,705 | 11.4 | 349,761 | 340,828 |
Debt certificates | 54,811 | (1.7) | 55,763 | 55,397 |
Other financial liabilities | 16,006 | 5.4 | 15,183 | 13,930 |
Liabilities under insurance and reinsurance contracts | 12,275 | 13.0 | 10,865 | 10,564 |
Other liabilities | 16,578 | 13.9 | 14,549 | 15,957 |
Total liabilities | 688,783 | 12.2 | 614,125 | 598,694 |
Non-controlling interests | 3,654 | (24.7) | 4,853 | 5,628 |
Accumulated other comprehensive income | (16,649) | 1.0 | (16,476) | (15,684) |
Shareholders’ funds | 62,891 | 4.2 | 60,383 | 60,622 |
Total equity | 49,897 | 2.3 | 48,760 | 50,567 |
Total liabilities and equity | 738,680 | 11.4 | 662,885 | 649,261 |
Memorandum item: | ||||
Guarantees given | 54,954 | 19.6 | 45,956 | 43,740 |
LOANS AND ADVANCES TO CUSTOMERS (MILLIONS OF EUROS)
30-09-22 | ∆% | 31-12-21 | 30-09-21 | |
---|---|---|---|---|
Public sector | 20,488 | 4.2 | 19,656 | 19,934 |
Individuals | 158,462 | 8.2 | 146,433 | 147,982 |
Mortgages | 93,753 | 2.7 | 91,324 | 91,811 |
Consumer | 36,424 | 17.4 | 31,026 | 31,934 |
Credit cards | 16,453 | 27.2 | 12,936 | 12,883 |
Other loans | 11,832 | 6.2 | 11,146 | 11,354 |
Business | 180,560 | 20.9 | 149,309 | 145,826 |
Non-performing loans | 14,256 | (2.7) | 14,657 | 14,226 |
Loans and advances to customers (gross) | 373,765 | 13.2 | 330,055 | 327,968 |
Allowances (1) | (12,035) | 8.3 | (11,116) | (11,469) |
Loans and advances to customers | 361,731 | 13.4 | 318,939 | 316,499 |
- (1) Allowances include valuation adjustments for credit risk throughout the expected residual life in those financial instruments that have been acquired (mainly originating from the acquisition of Catalunya Banc, S.A.). As of September 30, 2022, December 31, 2021 and September 30, 2021, the remaining amount was €202m, €266m and €284m, respectively.
The evolution of loans and advances to customers and the customer funds of the BBVA Group as of September 30, December 31, 2021 and September 30, 2022 is shown below.
LOANS AND ADVANCES TO CUSTOMERS
(BILLIONS OF EUROS)
(1) At constant exchange rates: +10.4%.
CUSTOMER FUNDS
(BILLIONS OF EUROS)
(1) At constant exchange rates: +5.6%.
CUSTOMER FUNDS (MILLIONS OF EUROS)
30-09-22 | ∆% | 31-12-21 | 30-09-21 | |
---|---|---|---|---|
Deposits from customers | 389,705 | 11.4 | 349,761 | 340,828 |
Current accounts | 314,631 | 7.4 | 293,015 | 276,129 |
Time deposits | 72,992 | 32.6 | 55,059 | 63,163 |
Other deposits | 2,082 | 23.4 | 1,687 | 1,535 |
Other customer funds | 150,504 | 2.3 | 147,192 | 140,906 |
Mutual funds and investment companies and customer portfolios(1) | 108,315 | 2.0 | 106,235 | 100,612 |
Pension funds | 39,178 | 1.1 | 38,763 | 38,257 |
Other off-balance sheet funds | 3,011 | 37.2 | 2,195 | 2,037 |
Total customer funds | 540,210 | 8.7 | 496,954 | 481,734 |
- (1) Includes the customer portfolios in Spain, Mexico, Colombia and Peru.