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.