Operating expenses in the last quarter amount to €2,852m, practically the same figure as in the same period in 2012. The cumulative figure for the year is €11,201m, with a slowdown of its year-on-year increase to 3.8% (8.4% at constant exchange rates). The policy of cost control applied in developed countries has largely offset the execution of plans for investment in technology and the expansion projects in emerging areas.
Breakdown of operating costs and efficiency calculation
(Million euros)
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2013 | Δ % | 2012 |
|---|---|---|---|
| Personnel expenses | 5,788 | 2.2 | 5,662 |
| Wages and salaries | 4,392 | 1.0 | 4,348 |
| Employee welfare expenses | 866 | 5.8 | 819 |
| Training expenses and other | 530 | 6.9 | 495 |
| General and administrative expenses | 4,280 | 4.3 | 4,106 |
| Premises | 966 | 5.5 | 916 |
| IT | 801 | 7.4 | 745 |
| Communications | 313 | (5.4) | 330 |
| Advertising and publicity | 391 | 3.3 | 378 |
| Corporate expenses | 106 | 3.8 | 102 |
| Other expenses | 1,268 | 5.6 | 1,201 |
| Levies and taxes | 437 | 0.7 | 433 |
| Administration expenses | 10,068 | 3.1 | 9,768 |
| Depreciation and amortization | 1,133 | 11.3 | 1,018 |
| Operating expenses | 11,201 | 3.8 | 10,786 |
| Gross income | 21,397 | (2.3) | 21,892 |
| Efficiency ratio (Operating costs/Gross income, in %) | 52.3 |
|
49.3 |
Efficiency
The number of employees, branches and ATMs has been affected by the changes in the scope of consolidation in the quarter (the sale of BBVA Panama and AFP Provida Chile). Excluding these two companies:
- The number of people working in BBVA as of 31-Dec-2013 is 109,305. By geographical areas, there has been an increase in practically all the countries in South America, while in the rest of the areas it has fallen.
Number of employees (1)
- The total number of branches at the close of December was 7,512 units. By geographical areas the number has risen in South America, above all in Colombia, Peru and Venezuela, has fallen in Spain (the process of integrating Unnim), and has remained without significant changes in the rest of the areas.
Number of branches (1)
- The number of ATMs at the end of the year stood at 20,415 units. Their number has increased in South America and to a lesser extent in Mexico.
Number of ATMs (1)
With these figures for revenue and expenses, the Group’s efficiency ratio in 2013 stands at 52.3%, while operating income is €10,196m, 8.2% below the figure for the same period in 2012 (down 3.0% excluding the exchange-rate effect).
Operating income
(Million euros)
