BBVA reserves the right to modify or supplement the information provided without prior notice.
This data, that is not under the obligation to disclose information required by the Comisión Nacional del Mercado de Valores (CNMV), is provided as a courtesy and for convenience and informational purposes only and is not intended to imply any endorsement of or provide any investment advice.
BBVA shall have no liability whatsoever (in negligence or otherwise) for any damage or loss howsoever arising from any use of this information.
| Consensus (€Mn) | 4Q21 |
|---|---|
| Net Interest Income | 3,761 |
| Gross Income | 5,069 |
| Operating Income | 2,687 |
| Net Attributable Profit | 1,042 |
| BIS3 FL CET1 (%) | 13.20 |
(*) This consensus includes the estimates of 22 analysts for the P&L and 19 for the CET1 FL ratio. Updated as of January 20th, 2022
| Net Attributable Profit (EUR m) | 4Q21 |
|---|---|
| Spain | 290 |
| Mexico | 626 |
| Turkey | 134 |
| South America | 114 |
| Rest of Business | 55 |
| Corporate Center | -178 |
(*) This consensus includes the estimates of 22 analysts. Updated as of January 20th, 2022
| Consensus (EUR m) (*) | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Net Interest Income | 14,481 | 14,789 | 15,025 | 15,492 |
| Gross Income | 20,673 | 20,469 | 20,775 | 21,441 |
| Operating Income | 11,347 | 11,274 | 11,557 | 12,146 |
| Net Attributable Profit excluding corporate operations and restructuring charges | 4,737 | 4,654 | 4,894 | 5,246 |
| Net Attributable Profit (**) | 4,321 | 4,611 | 4,855 | 5,246 |
| BIS3 FL CET1 (%) | 13.29 | 13.10 | 13.29 | 13.44 |
(*) Consensus calculated from the contribution of 16 analysts. Data updated as of December 13, 2021.
(**) The implicit stake in Garanti BBVA is expected to increase to 76% in 2022 and 84% in 2023-24.
| Net Attributable Profit (EUR m) (*) | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Spain | 1,515 | 1,505 | 1,582 | 1,711 |
| Mexico | 2,423 | 2,565 | 2,693 | 2,902 |
| Turkey (**) | 724 | 758 | 792 | 771 |
| South America | 456 | 497 | 532 | 567 |
| Rest of Business | 252 | 210 | 210 | 213 |
| Corporate Center excluding corporate operations and restructuring charges | -634 | -882 | -916 | -919 |
| Corporate Center | -1,050 | -925 | -955 | -919 |
(*) Consensus calculated from the contribution of 16 analysts. Data updated as of December 13, 2021.
(**) The implicit stake in Garanti BBVA is expected to increase to 76% in 2022 and 84% in 2023-24.
| Company | Analyst |
|---|---|
| Alantra Equities | Francisco Riquel |
| Autonomous Research | Britta Schmidt |
| Banco Sabadell | María Paz Ojeda |
| Bankinter | Rafael Alonso |
| Barclays | Fernando Gil De Santivañes |
| Berenberg | Michael Christodoulou |
| Bestinver | Mario Ropero |
| BofA-ML | Marta Sánchez |
| CaixaBank BPI | Carlos Joaquim Peixoto |
| Citigroup | Stefan Nedialkov |
| Credit Suisse | Jon Peace |
| Deutsche Bank | Flora Benhakoun |
| Exane BNP Paribas | Ignacio Ulargui |
| Goldman Sachs | Jermej Omahen |
| GVC Gaesco | Marisa Mazo |
| HSBC | Domenico Santoro |
| JB Capital | Maksym Mishyn |
| Jefferies | Benjie Creeland-Sandford |
| JP Morgan | Sofie Peterzéns |
| KBW | Daragh Quinn |
| Kepler Cheuvreux | Jacques-Henri Gaulard |
| Mediobanca | Andrea Filtri |
| Morgan Stanley | Álvaro Serrano |
| Morningstar | Johann Scholtz |
| Norbolsa | Nagore Díez |
| RBC | Benjamin Toms |
| Redburn | Gonzalo López |
| Renta 4 | Nuria Álvarez |
| Santander | Patrick Lee |
| Société Générale | Carlos Cobo |
| UBS | Ignacio Cerezo |
| Company | Recommendation | P.O. | Date |
|---|---|---|---|
| Alantra Equities | BUY | 6.70 | 12/03/2021 |
| Autonomous | HOLD | 6.84 | 11/24/2021 |
| Bankinter | BUY | 7.10 | 11/02/2021 |
| Barclays | HOLD | 6.60 | 11/26/2021 |
| Berenberg | HOLD | 5.30 | 08/12/2021 |
| Bestinver | BUY | 5.70 | 12/10/2021 |
| BoAML | BUY | 7.00 | 11/19/2021 |
| Caixabank BPI | BUY | 7.15 | 11/19/2021 |
| Carraighill | HOLD | 5.55 | 06/09/2021 |
| Citigroup | BUY | 6.70 | 11/18/2021 |
| Credit Suisse | HOLD | 5.20 | 12/08/2021 |
| Deutsche Bank | BUY | 6.40 | 30/10/2021 |
| Exane BNP Paribas | HOLD | 6,00 | 11/22/2021 |
| Goldman Sachs | NA | NA | 11/18/2020 |
| GVC Gaesco | HOLD | 6,00 | 11/19/2021 |
| HSBC | HOLD | 6.30 | 11/02/2021 |
| JB Capital | HOLD | 5.50 | 11/19/2021 |
| Jefferies | BUY | 7.60 | 11/18/2021 |
| JP Morgan | BUY | 7.20 | 11/18/2021 |
| Keefe B&W | SELL | 5.64 | 11/05/2021 |
| Kepler Cheuvreux | HOLD | 7.00 | 11/19/2021 |
| Mediobanca | HOLD | 6.00 | 11/19/2021 |
| Morgan Stanley | BUY | 7.00 | 11/24/2021 |
| Morningstar | BUY | 6.10 | 11/26/2021 |
| Norbolsa | BUY | 5.73 | 07/31/2021 |
| Oddo | BUY | 6.70 | 11/22/2021 |
| RBC | BUY | 6.60 | 11/19/2021 |
| Redburn | HOLD | NA | 05/07/2021 |
| Renta 4 | BUY | 6.80 | 06/30/2021 |
| Sabadell | SELL | 5.94 | 10/15/2021 |
| Santander | BUY | 7.30 | 11/11/2021 |
| Societe Generale | BUY | 6.70 | 11/19/2021 |
| UBS | HOLD | 6.20 | 11/18/2021 |
BBVA reserves the right to modify or supplement the information provided without prior notice.
This data, that is not under the obligation to disclose information required by the Comisión Nacional del Mercado de Valores (CNMV), is provided as a courtesy and for convenience and informational purposes only and is not intended to imply any endorsement of or provide any investment advice.
BBVA shall have no liability whatsoever (in negligence or otherwise) for any damage or loss howsoever arising from any use of this information.
| Consensus (€Mn) | 4Q21 |
|---|---|
| Net Interest Income | 3,761 |
| Gross Income | 5,069 |
| Operating Income | 2,687 |
| Net Attributable Profit | 1,042 |
| BIS3 FL CET1 (%) | 13.20 |
(*) This consensus includes the estimates of 22 analysts for the P&L and 19 for the CET1 FL ratio. Updated as of January 20th, 2022
| Net Attributable Profit (EUR m) | 4Q21 |
|---|---|
| Spain | 290 |
| Mexico | 626 |
| Turkey | 134 |
| South America | 114 |
| Rest of Business | 55 |
| Corporate Center | -178 |
(*) This consensus includes the estimates of 22 analysts. Updated as of January 20th, 2022
| Consensus (EUR m) (*) | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Net Interest Income | 14,481 | 14,789 | 15,025 | 15,492 |
| Gross Income | 20,673 | 20,469 | 20,775 | 21,441 |
| Operating Income | 11,347 | 11,274 | 11,557 | 12,146 |
| Net Attributable Profit excluding corporate operations and restructuring charges | 4,737 | 4,654 | 4,894 | 5,246 |
| Net Attributable Profit (**) | 4,321 | 4,611 | 4,855 | 5,246 |
| BIS3 FL CET1 (%) | 13.29 | 13.10 | 13.29 | 13.44 |
(*) Consensus calculated from the contribution of 16 analysts. Data updated as of December 13, 2021.
(**) The implicit stake in Garanti BBVA is expected to increase to 76% in 2022 and 84% in 2023-24.
| Net Attributable Profit (EUR m) (*) | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Spain | 1,515 | 1,505 | 1,582 | 1,711 |
| Mexico | 2,423 | 2,565 | 2,693 | 2,902 |
| Turkey (**) | 724 | 758 | 792 | 771 |
| South America | 456 | 497 | 532 | 567 |
| Rest of Business | 252 | 210 | 210 | 213 |
| Corporate Center excluding corporate operations and restructuring charges | -634 | -882 | -916 | -919 |
| Corporate Center | -1,050 | -925 | -955 | -919 |
(*) Consensus calculated from the contribution of 16 analysts. Data updated as of December 13, 2021.
(**) The implicit stake in Garanti BBVA is expected to increase to 76% in 2022 and 84% in 2023-24.
