Other information: Corporate & Investment Banking


  • Lending activity increase throughout the year
  • Dynamism of customer funds in the quarter
  • Favorable evolution of recurring income and NTI, with double-digit growth in all business lines
  • Improved efficiency

Business activity (1)

(1) Excluding repos.

(Percentage. Constant exchange rates)

Operating income
(Millions of euros at constant exchange rates)

(1) At current exchange rates: +28.9%.

Net attributable profit (LOSS)
(Millions of euros at constant exchange rates)

(1) At current exchange rates: +40.0%.

Financial statements and relevant business indicators (Millions of euros and percentage)

Income statement 2022 (1) ∆% ∆% (2) 2021 (3)
Net interest income 1,952 23.9 31.3 1,156
Net fees and commissions 917 15.5 20.0 794
Net trading income 1,182 30.6 50.1 905
Other operating income and expenses (43) 6.9 4.2 (40)
Gross income 4,008 23.9 33.7 3,235
Operating expenses (1,125) 12.7 13.4 (999)
Personnel expenses (535) 12.9 12.3 (474)
Other administrative expenses (485) 16.4 19.3 (417)
Depreciation (105) (2.3) (3.7) (107)
Operating income 2,883 28.9 43.8 2,236
Impairment on financial assets not measured at fair value through profit or loss (104) 51.0 110.3 (69)
Provisions or reversal of provisions and other results (12) 0.9 (8.9) (12)
Profit (loss) before tax 2,767 28.4 42.4 2,156
Income tax (779) 32.2 45.6 (589)
Profit (loss) for the period 1,988 26.9 41.2 1,567
Non-controlling interests (253) (22.6) 10.9 (327)
Net attributable profit (loss) 1,736 40.0 47.1 1,240
  • (1) For the translation of the income statement in those countries where hyperinflation accounting is applied, the punctual exchange rate as of December 31, 2022 is used.

  • (2) At constant exchange rates.

  • (2) Restated balances. For more information, please refer to the “Business Areas” section.
Balance sheets 31-12-22 ∆% ∆% (1) 31-12-21
Cash, cash balances at central banks and other demand deposits 5,524 7.8 4.9 5,125
Financial assets designated at fair value 117,958 (10.4) (11.5) 131,711
Of which: Loans and advances 45,360 (17.9) (18.2) 55,232
Financial assets at amortized cost 89,440 23.6 23.6 72,363
Of which: Loans and advances to customers 77,208 24.4 24.5 62,042
Inter-area positions - - - -
Tangible assets 52 20.6 18.6 43
Other assets 862 n.s. n.s. 110
Total assets/liabilities and equity 213,836 2.1 1.4 209,352
Financial liabilities held for trading and designated at fair value through profit or loss 98,790 3.7 2.4 95,283
Deposits from central banks and credit institutions 20,987 62.9 61.7 12,884
Deposits from customers 48,180 25.6 25.0 38,360
Debt certificates 5,292 (7.9) (12.3) 5,746
Inter-area positions 25,576 (42.1) (41.9) 44,196
Other liabilities 4,157 43.3 45.6 2,901
Regulatory capital allocated 10,855 8.7 8.3 9,983
Relevant business indicators 31-12-22 ∆% ∆% (1) 31-12-21
Performing loans and advances to customers under management (2) 77,291 25.5 25.3 61,588
Non-performing loans 753 (46.9) (37.6) 1,417
Customer deposits under management (2) 47,270 26.2 25.6 37,445
Off-balance sheet funds (3) 1,750 33.2 62.5 1,314
Efficiency ratio (%) 28.1 30.9
  • (1) At constant exchange rates.
  • (2) Excluding repos.
  • (3) Includes mutual funds, customer portfolios and other off-balance sheet funds.

Unless expressly stated otherwise, all the comments below on rates of change, for both activity and results, will be given at constant exchange rates. For the conversion of these figures in those countries in which accounting for hyperinflation is applied, the punctual exchange rate as of December 31, 2022 is used. These rates, together with changes at current exchange rates, can be found in the attached tables of financial statements and relevant business indicators.


The most relevant aspects related to the area's activity in the year 2022 were:

  • Lending activity (performing loans under management) continued to grow at double digit rates and accumulates a growth of 25.3%, with a positive performance in all geographical areas, except for Peru. Both Investment Banking & Finance (project finance and one-off corporate operations in the United States) and Global Transactional Banking, where Factoring and Confirming business showed a very positive dynamics, stand out.
  • Customer funds increased by 26.6% thanks to the active management of the area, both in demand and time deposits. The deposits from the Group’s wholesale customers continue to be a relevant lever for the BBVA’s liquidity management.

The most relevant developments in the area's activity in the fourth quarter of 2022 were:

  • Lending activity (performing loans under management) increased by 1.7%, especially due to the performance of Rest of Business, with outstanding operations with corporate clients and a good evolution of Factoring.
  • Customer funds increased by 11.8%, thanks to the growth in time deposits (+22.5%) and, to a lesser extent, to off-balance sheet funds (+15.6%). For its part, demand deposits grew by +5.0%.


CIB generated a net attributable profit of €1,736m in 2022. These results, which do not include the application of hyperinflation accounting, represent an increase of 47.1% on a year-on-year basis, due to the growth in recurring income and NTI, which comfortably offset the higher expenses and provisions for impairment on financial assets. It should also be noted that all business lines of the CIB area recorded double-digit growth compared to the year 2021, both in revenues and net attributable profit.

The contribution by business areas, excluding the Corporate Center, to CIB's accumulated net attributable profit at the end of December 2022 was as follows: 25% Spain, 28% Mexico, 21% Turkey, 14% South America and 12% Rest of Business.

The most relevant aspects of the year-on-year evolution in the income statement of this aggregate are summarized below:

  • Net interest income was 31.3% above the year 2021, with a good evolution in all business lines, highlighting the performance of Global Transactional Banking. This excellent result is due to the aforementioned good evolution of lending activity and the offer extension to our customers.
  • Net fees and commissions recorded an increase of 20.0%, with positive evolution of all business lines, especially in Global Transactional Banking. Project finance operations and the good activity at guarantee scope stand out.
  • NTI showed a good evolution (+50.1%), mainly due to the performance of the Global Markets unit, driven by the income from commercial activity in emerging markets and intraday trading in foreign exchange positions.
  • Operating expenses increased by 13.4%, in a year-on-year comparison affected by the cost containment plans implemented by CIB in 2021, in addition to the high inflationary environment, although the area continues to focus its efforts on discretionary expenses management. Despite the aforementioned, the efficiency ratio stood at 28.1%, which is an improvement over the same period last year.
  • Higher level of provisions for impairment on financial assets, with higher loan loss-provisions in Turkey.
  • Finally, the provision and other results line recorded a negative result of €12m (-8.9% in year-on-year terms), highlighting in the year-on-year evolution the release of provisions for risks and contingent commitments made in the New York branch.

In the fourth quarter of 2022 and excluding the effect of the variation in exchange rates, the Group's wholesale businesses generated a net attributable profit of €424m (-2.0% compared to the previous quarter). This performance is mainly explained by the higher expenses compared to the previous quarter, as revenues and provisions showed a positive evolution.