At the close of the first quarter of 2014 a change in trend could be seen in some loan portfolios. This is having an influence in the total volume of lending managed by the area, with a balance as of 31-Mar-2014 showing a lower year-on-year fall than in previous quarters. In fact, the quarterly rate of change is beginning to be positive (up 1.2%). Within this caption, funding for segments managed by CBB through fixed-income is also included.
- In CBB, the balance of loans under management at the close of March has increased compared with the figure for the close of the previous quarter: +2.6%.
- There is also more demand for consumer loans, largely spurred by the marketing of new “One-Click” consumer loans, which have proved very popular with customers.
With respect to asset quality, the NPA ratio has declined slightly by 2 basis points over the quarter and the figure for gross additions to NPA has improved on previous quarters. Stability of the coverage ratio and a reduction of the risk premium.
On the liabilities side, customer deposits under management increased by 4.5% in year-on-year terms, or 8.8% excluding promissory notes sold by the network in the same period in 2013; but they fell back slightly over the quarter (down 0.5%) due to the commercial policy applied in recent months of prioritizing profitability over volume. As a result, there has been a fall in the cost of funds gathered between January and March 2014, which is having a positive influence on net interest income in the area.
Off-balance sheet funds, including customer portfolios, have risen by 17.3% year-on-year and 4.7% over the quarter. As a result, the BBVA Group fund manager in Spain has maintained its clear leadership position.
