bbva
Search
Other financial reports Download
bbva| 4Q23 Report
bbva| 4Q23 Report

Click on each area to know more

Spain

7,888M€*
+29.1%

Spain

Spain

HIGHLIGHTS

  1. Growth in consumer loans, SMEs and public sector during the year
  2. Favorable evolution of core revenues
  3. Very relevant improvement of the efficiency ratio during the year
  4. Cost of risk remains at low levels

RESULTS (Millons of euros)

Net interest income Gross income
5,620 7,888
+48.9% (2) +29.1% (2)
Operating income Net atributable profit
4,743 2,755
+47.7% (2) +65.3% (2)

ACTIVITY (1)
Variation compared 31-12-22.
Balances as of 31-12-23.
Performing loans and advances to customers under management Customer funds under management
-0.9% +1.7%

RISKS

NPL coverage ratio
61% 55%
NPL ratio
3.9% 4.1%
Cost of risk
0.28% 0.37%
DEC 22
DEC 23
(1) Exluding repos.
(2) Year-on-year changes.

Mexico

14,267M€*
+20.4% (1)

Mexico

Mexico

HIGHLIGHTS

  1. Growth of all the segments in the loan portfolio, with greater dynamism of the retail segment
  2. Double digit year-on-year growth in all the income statement margins
  3. Favorable evolution of the efficiency ratio
  4. Quarterly net attributable profit continues at high levels

RESULTS (Millons of euros)

Net interest income Gross income
11,054 14,257
+19.5% (2) +20.4% (2)
Operating income Net atributable profit
9,883 5,340
+10.9% (2) +12.2% (2)

ACTIVITY (1)
Variation compared 31-12-22.
Balances as of 31-12-23.
Performing loans and advances to customers under management Customer funds under management
-10.9% +12.2%

RISKS

NPL coverage ratio
129% 123%
NPL ratio
2.5% 2.6%
Cost of risk
2.49% 2.96%
DEC 22
DEC 23
(1) Exluding repos.
(2) Year-on-year changes.

Turkey

2,981M€*
+140.3% (1)

Turkey

TURKEY

HIGHLIGHTS

  1. The dedollarization of the balance sheet continues in the quarter
  2. Progressive improvement of the NPL ratio in the year
  3. The cost of risk remains at low levels during 2023
  4. Net attributable profit growth in the quarter

RESULTS (Millons of euros)

Net interest income Gross income
1,869 2,981
+8.0% (2) +140.3% (2)
Operating income Net atributable profit
1,581 2,981
+206.9% (2) n.s.% (2)

ACTIVITY (1)
Variation compared 31-12-22.
Balances as of 31-12-23.
Performing loans and advances to customers under management Customer funds under management
+64.2% +77.8%

RISKS

NPL coverage ratio
90% 97%
NPL ratio
5.1% 3.8%
Cost of risk
0.94% 0.25%
DEC 22
DEC 23
(1) Exluding repos.
(2) Year-on-year changes.

South America

4,331M€*
+43.9% (2)

South America

South America

HIGHLIGHTS

  1. TGrowth in lending activity focused on the retail segments
  2. Excellent evolution of the net interest income and of the NTI
  3. Improvement in the efficiency of the area
  4. Higher adjustment for hyperinflation in Argentina and the Argentine peso devaluation in the fourth quarter

RESULTS (Millons of euros)

Net interest income Gross income
4,394 4,331
+47.5% (2) +43.9% (2)
Operating income Net atributable profit
2,397 4,331
+63.8% (2) +43.2% (2)

ACTIVITY (1)
Variation compared 31-12-22.
Balances as of 31-12-23.
Performing loans and advances to customers under management Customer funds under management
+8.1% -9.3%

RISKS

NPL coverage ratio
101% 88%
NPL ratio
4.1% 4.8%
Cost of risk
1.69% 2.51%
DEC 22
DEC 23
(1) Exluding repos.
(2) Year-on-year changes.

Rest of Business

1,103M€*
+40.7% (2)

Rest of Business

Rest of business

HIGHLIGHTS

  1. Growth in lending activity during the year, favored by the recovery during the quarter
  2. Dynamism in net interest income and NTI in the year
  3. The cost of risk remains at low levels
  4. Significant improvement of the efficiency ratio

RESULTS (Millons of euros)

Net interest income Gross income
539 1,103
+63.6% (2) +40.7% (2)
Operating income Net atributable profit
507 389
+84.9% (2) +63.7% (2)

ACTIVITY (1)
Variation compared 31-12-22.
Balances as of 31-12-23.
Performing loans and advances to customers under management Customer funds under management
+5.7% +32.5%

RISKS

NPL coverage ratio
131% 69%
NPL ratio
0.4% 0.7%
Cost of risk
0.04% 0.08%
DEC 22
DEC 23
(1) Exluding repos.
(2) Year-on-year changes.

* Gross income

(1) At constant exchange rate.

(2)At constant exchange rates.

This section presents the most relevant aspects of the Group's different business areas. Specifically, for each one of them, it shows a summary of the income statements and balance sheets, the business activity figures and the most significant ratios.

The structure of the business areas reported by the BBVA Group as of December 31, 2023, is the same as the one presented at the end of 2022.

The composition of BBVA Group's business areas is summarized below:

  1. Spain mainly includes the banking, insurance and asset management activities that the Group carries out in this country.
  2. Mexico includes banking, insurance and asset management activities in this country, as well as the activity that BBVA Mexico carries out through its agency in Houston.
  3. Turkey reports the activity of the group Garanti BBVA that is mainly carried out in this country and, to a lesser extent, inRomania and the Netherlands.
  4. South America includes banking, financial, insurance and asset management activities conducted, mainly, in Argentina, Chile, Colombia, Peru, Uruguay and Venezuela.
  5. Rest of Business mainly incorporates the wholesale activity carried out in Europe (excluding Spain), the United States, and BBVA’s branches in Asia.

The Corporate Center contains the centralized functions of the Group, including: the costs of the head offices with a corporate function; structural exchange rate positions management; portfolios whose management is not linked to customer relations, such as financial and industrial holdings; stakes in Funds & Investment Vehicles in tech companies; certain tax assets and liabilities; funds due to commitments to employees; goodwill and other intangible assets as well as portfolios and assets' funding. Finally, in the description of this aggregate, it is worth mentioning that the Corporate Center's tax expense includes for each period the difference between the effective tax rate in the period of each business area and the expected tax rate of the Group for the year as a whole.

In addition to these geographical breakdowns, supplementary information is provided for the wholesale business carried out by BBVA, Corporate & Investment Banking (CIB), in the countries where it operates. This business is relevant to have a broader understanding of the Group's activity and results due to the important features of the type of customers served, products offered and risks assumed. The information by business areas is based on units at the lowest level and/or companies that make up the Group, which are assigned to the different areas according to the main region or company group in which they carry out their activity.

Regarding the shareholders' funds allocation, in the business areas, a capital allocation system based on the consumed regulatory capital is used.

Finally, it should be noted that, as usual, in the case of the different business areas, that is, Mexico, Turkey, South America and Rest of Business, and, additionally, CIB, in addition to the year-on-year variations applying current exchange rates, the variations at constant exchange rates are also disclosed.

GROSS INCOME (1), OPERATING INCOME(1) AND NET ATTRIBUTABLE PROFIT(1) BREAKDOWN (PERCENTAGE. 2023)

(1) Excludes the Corporate Center.

MAIN INCOME STATEMENT LINE ITEMS BY BUSINESS AREA (MILLIONS OF EUROS)


BBVA Group
Business areas


∑ Business areas

Corporate Center

Spain
Mexico
Turkey		South AmericaRest of Business
2023
Net interest income23,0895,62011,0541,8694,39453923,476(386)
Gross income29,5427,88814,2672,9814,3311,10330,571(1,029)
Operating income 17,2334,7439,8831,5812,39750719,111(1,878)
Profit (loss) before tax12,4193,9477,3591,3251,20647914,317(1,898)
Net attributable profit (loss) excluding non-recurring impacts8,0192,7555,3405286133899,626(1,607)
Net attributable profit (loss)8,0192,7555,3405286133899,626(1,607)
2022 (1)
Net interest income19,1243,7748,3782,6114,13833219,233(109)
Gross income24,7436,11210,7343,1724,26579025,072(329)
Operating income 14,0423,2107,3362,1112,29027615,223(1,181)
Profit (loss) before tax10,4022,6105,6201,6361,43427711,577(1,175)
Net attributable profit (loss) excluding non-recurring impacts (2)6,5591,8684,1315057382407,482(922)
Net attributable profit (loss)6,3581,6674,1315057382407,280(922)

(1) Balances restated according to IFRS 17 - Insurance contracts.

(2) Non-recurring impacts includes the net impact arisen from the purchase of offices in Spain in the second quarter of 2022.


MAIN BALANCE-SHEET ITEMS AND RISK-WEIGHTED ASSETS BY BUSINESS AREA (MILLIONS OF EUROS) 


BBVA Group
Business areas


∑ Business areas

Corporate Center


Deletions

Spain
Mexico
Turkey		South AmericaRest of Business
31-12-23
Loans and advances to customers377,643173,16988,11237,41641,21339,322379,231230(1,819)
Deposits from customers413,487216,19892,56450,65142,56713,056415,037181(1,732)
Off-balance sheet funds164,36797,25353,2547,7685,525566164,3661-
Total assets/liabilities and equity775,558457,624173,48968,32964,77964,274828,49523,074(76,011)
RWAs363,916121,77991,86554,50649,11736,410353,67810,238-
31-12-22 (1)
Loans and advances to customers357,351173,97171,23137,44338,43737,375358,456278(1,383)
Deposits from customers394,404221,01977,75046,33940,0429,827394,978187(760)
Off-balance sheet funds150,17286,75938,1966,93617,760520150,1702-
Total assets/liabilities and equity712,092427,116142,55766,03661,95149,952747,61322,719(58,239)
RWAs337,066114,47471,73856,27546,83435,064324,38512,682-

(1) Balances restated according to IFRS 17 - Insurance contracts.

NUMBER OF EMPLOYEES

NUMBER OF BRANCHES

NUMBER OF ATMS