Group information

Results

  • Good performance of gross income, thanks to a positive trend in more recurring revenue (particularly income from fees and commissions) and net trading income (NTI).
  • Operating expenses under control.
  • This has led to a further improvement in the efficiency ratio.
  • Impairment losses on financial assets slightly below the figure for the first quarter of 2016.
  • Inclusion of €177m restructuring costs inprovisions.
  • As a result, the net attributable profit in the first quarter of 2017 was €1,199m, 69.0% higher than in the same quarter last year and 76.8% higher than posted in the fourth quarter of 2016.

Net attributable profit (Million euros)

Net attributable profit breakdown (1) (Percentage. 2Q 2017)

(1) Excludes the Corporate Center.

(2) Includes the areas Banking activity in Spain and Non Core Real Estate.

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Balance sheet and business activity

  • The dynamism of loans and advances to the clientele (gross) continues in the emerging geographies and the decline in Spain and the United States.
  • Doubtful credits continue to perform favorably, especially in the areas of Non Core Real Estate and the United States.
  • En depósitos de la clientela sobresale el buen desempeño de las partidas más líquidas y de menor coste.
  • In customer deposits the good performance of the most liquid and lower cost items stands out.

 

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Solvency

  • Capital position above regulatory requirements, with a CET1 fully-loaded ratio at 31-3-2017 of 11.0%. The recurring generation of results and the positive impact of the evolution of markets in the period offset the combined effect of -13 basis points on operations carried out in the quarter (increased participation in Garanti and sale of 1.7% Of China Citic Bank -CNCB-).
  • The fully-loaded leverage ratio of 6.6% continues to compare favorably with the rest of its peer group.

Evolution of fully-loaded capital ratios (Percentage)

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Risk management

Positive trajectory, also, of the metrics related to the management of the credit risk: as of 31-3-2017, the default rate is reduced and the coverage increases slightly, compared to the closing data of 2016. The risk cost Evolves steadily.

Default and coverage rates Percentage

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Transformation

The Group's digital and mobile customer base (+ 20% and + 41% year-on-year, respectively, according to the latest data available) and digital sales continue to grow in all geographies where BBVA operates.

Result attributed to the Group Millions of euros