BBVA in 2013

Corporate & Investment Banking

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This unit is responsible for the global businesses within Spain. As of 31-Dec-2013 it managed performing loans of €16,838m and customer deposits under management of €12,131m.

Performing loans have continued to decline, basically as a result of the aforementioned deleveraging process. This heading has registered an accumulated decline over the last year of 7.2%.

On-balance-sheet customer funds are up 32.2% over the same period. Worth noting are the deposit gathering efforts carried out to win back the trust of corporate and institutional depositors, following the successive rating downgrades of both BBVA and the Kingdom of Spain in 2012. Thus, the current levels of customer funds are even higher than those registered prior to these downgrades.

The following are worth highlighting as regards earnings:

  • 18.8% year-on-year increase in gross income to €1,008m, underpinned mainly by good performance of revenue from Global Markets, revenue generated by the Global Transaction Banking unit and, in general, revenue from activity with customers.
  • Operating expenses have increased to €347m, fueled mainly by expenses in technology and the depreciation and amortization associated with ongoing investment in technology.
  • As a result, operating income is up 23.7% on 2012 to €661m.
  • Lower volume of impairment losses on financial assets, which are down 49.4% on the figure for 2012.
  • As a result, the accumulated net attributable profit is at levels much higher than the figure registered the previous year: €431m vs. €300m in 2012.

The most significant transactions and highlights for the period are detailed in the CIB section at the end of this chapter.