The difference between what the Bank pays for deposits and the interest it charges for loans, i.e. the net interest income, is its main source of revenue. Recurring revenues, which are the sum of net interest income and income from fees and commissions, allow the Bank to cover its overheads, including salaries and payments to suppliers, and secure a profit , which is subsequently distributed by the payment of taxes and dividends. The role of banks thus has a positive impact on society. It also requires the maintenance of levels of capital that are sufficient to keep the Entity solvent.
Solid recurring revenue growth
Year-on-year rates of change at constant exchange rates
(*) Excluding the impacts from the impairment losses from Telefónica in 2017 and the so-called "mortage floor clauses" in 2016.
Activity figures affected by the operations currently underway (1)
(1) The sales of BBVA Chile and the real-state business in Spain.
Solid risk indicators
CET1 fully-loaded ratio above 11%