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 (EUR m) | 4Q20 |
|---|---|
| Net Interest Income | 4,074 |
| Gross Income | 5,384 |
| Operating Income | 2,706 |
| Net Attributable Profit | 1,092 |
| BIS3 FL CET1 (%) | 11.75 |
(*) The Net Attributable Profit figure of the Corporate Center includes the impact from the JV with Allianz (+300 Mn€), in line with the Relevant Event of December 14, 2020. (**) This consensus includes the estimates of 22 analysts. Updated as of January 15th, 2021.
| Net Attributable Profit (EUR m) | 4Q20 |
|---|---|
| Spain | 178 |
| The United States | 111 |
| Mexico | 539 |
| Turkey | 109 |
| South America | 89 |
| Rest of Eurasia | 26 |
| Corporate Center | 35 |
(*) The Net Attributable Profit figure of the Corporate Center includes the impact from the JV with Allianz (+300 Mn€), in line with the Relevant Event of December 14, 2020. (**) This consensus includes the estimates of 21 analysts. Updated as of January 15th, 2021.
| Consensus (EUR m) (*) | 2020 | 2021 | 2022 |
|---|---|---|---|
| Net Interest Income | 16,805 | 16,164 | 16,355 |
| Gross Income | 23,056 | 21,828 | 22,094 |
| Operating Income | 12,300 | 11,186 | 11,287 |
| Net Attributable Profit excl. goodwill impairment in BBVA USA | 2,888 | 2,759 | 3,431 |
| Goodwill impairment in BBVA USA | -2,084 | N/A | N/A |
| BIS3 FL CET1 (%) | 11.67 | 11.78 | 11.93 |
(*) This consensus does not include the impact on net attributable profit from the JV with Allianz (+300 Mn€) nor from the sale of BBVA USA (approx. +580 Mn€). It includes the estimates of 17 analysts. Updated as of November 17th, 2020.
| Net Attributable Profit (EUR m) (*) | 2020 | 2021 | 2022 |
|---|---|---|---|
| Spain | 625 | 775 | 1,031 |
| The United States | 232 | 294 | 475 |
| Turkey | 610 | 424 | 437 |
| Mexico | 1,717 | 1,693 | 1,857 |
| South America | 424 | 416 | 490 |
| Rest of Eurasia | 122 | 117 | 126 |
| Corporate Center (**) | -843 | -959 | -984 |
(*) This consensus does not include the impact on net attributable profit from the JV with Allianz (+300 Mn€) nor from the sale of BBVA USA (approx. +580 Mn€). It includes the estimates of 17 analysts. Updated as of November 17th, 2020. (**) -2,927 Mn€ in 2020 including the goodwill impairment in BBVA USA (-2,084 Mn€).
| Company | Analyst |
|---|---|
| Alantra Equities | Francisco Riquel |
| Autonomous Research | Britta Schmidt |
| Banco Sabadell | María Paz Ojeda |
| Bankinter | Rafael Alonso |
| Barclays | Fernando Gil De Santivañes |
| Berenberg | Andrew Lowe |
| 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 |
| Fidentiis | Mario Ropero |
| 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 |
| Oddo | Steven Gould |
| RBC | Benjamin Toms |
| Redburn | Gonzalo López |
| Renta 4 | Nuria Álvarez |
| Santander | José Coll |
| Société Générale | Carlos Cobo |
| UBS | Ignacio Cerezo |
| Company | Recommendation | P.O. | Date |
|---|---|---|---|
| Alantra Equities | BUY | 4.45 | 11/25/2020 |
| Autonomous | HOLD | 3.69 | 11/23/2020 |
| Bankinter | HOLD | 3.10 | 07/30/2020 |
| Barclays | BUY | 4.00 | 11/19/2020 |
| Berenberg | SELL | 2.10 | 11/03/2020 |
| BoAML | HOLD | 4.00 | 11/27/2020 |
| Caixabank BPI | BUY | 4.90 | 12/14/2020 |
| Citigroup | BUY | 4.65 | 12/10/2020 |
| Credit Suisse | HOLD | 3.90 | 11/17/2020 |
| Deutsche Bank | BUY | 4.40 | 11/19/2020 |
| Exane BNP Paribas | BUY | 5.50 | 12/09/2020 |
| Fidentiis | BUY | 4.33 | 11/16/2020 |
| Goldman Sachs | NA | NA | 11/18/2020 |
| GVC Gaesco | BUY | 3.19 | 04/22/2020 |
| HSBC | HOLD | 3.90 | 11/17/2020 |
| JB Capital | BUY | 4.25 | 11/16/2020 |
| Jefferies | HOLD | 3.50 | 11/17/2020 |
| JP Morgan | NA | NA | 11/17/2020 |
| Keefe B&W | HOLD | 3.52 | 12/04/2020 |
| Kepler Cheuvreux | HOLD | 3.96 | 11/17/2020 |
| Mediobanca | HOLD | 4.10 | 11/17/2020 |
| Morgan Stanley | HOLD | 4.00 | 11/24/2020 |
| Morningstar | HOLD | 4.50 | 09/28/2020 |
| Norbolsa | HOLD | 2.84 | 05/25/2020 |
| Oddo | SELL | 2.80 | 30/07/2020 |
| RBC | BUY | 5.00 | 11/26/2020 |
| Redburn | HOLD | 3.78 | 11/26/2020 |
| Renta 4 | BUY | 4.63 | 12/01/2020 |
| Sabadell | BUY | 4.30 | 11/16/2020 |
| Santander | BUY | 4.70 | 06/22/2020 |
| Societe Generale | HOLD | 2.70 | 11/03/2020 |
| UBS | HOLD | 3.65 | 11/17/2020 |
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 (EUR m) | 4Q20 |
|---|---|
| Net Interest Income | 4,074 |
| Gross Income | 5,384 |
| Operating Income | 2,706 |
| Net Attributable Profit | 1,092 |
| BIS3 FL CET1 (%) | 11.75 |
(*) The Net Attributable Profit figure of the Corporate Center includes the impact from the JV with Allianz (+300 Mn€), in line with the Relevant Event of December 14, 2020. (**) This consensus includes the estimates of 22 analysts. Updated as of January 15th, 2021.
| Net Attributable Profit (EUR m) | 4Q20 |
|---|---|
| Spain | 178 |
| The United States | 111 |
| Mexico | 539 |
| Turkey | 109 |
| South America | 89 |
| Rest of Eurasia | 26 |
| Corporate Center | 35 |
(*) The Net Attributable Profit figure of the Corporate Center includes the impact from the JV with Allianz (+300 Mn€), in line with the Relevant Event of December 14, 2020. (**) This consensus includes the estimates of 21 analysts. Updated as of January 15th, 2021.
| Consensus (EUR m) (*) | 2020 | 2021 | 2022 |
|---|---|---|---|
| Net Interest Income | 16,805 | 16,164 | 16,355 |
| Gross Income | 23,056 | 21,828 | 22,094 |
| Operating Income | 12,300 | 11,186 | 11,287 |
| Net Attributable Profit excl. goodwill impairment in BBVA USA | 2,888 | 2,759 | 3,431 |
| Goodwill impairment in BBVA USA | -2,084 | N/A | N/A |
| BIS3 FL CET1 (%) | 11.67 | 11.78 | 11.93 |
(*) This consensus does not include the impact on net attributable profit from the JV with Allianz (+300 Mn€) nor from the sale of BBVA USA (approx. +580 Mn€). It includes the estimates of 17 analysts. Updated as of November 17th, 2020.
| Net Attributable Profit (EUR m) (*) | 2020 | 2021 | 2022 |
|---|---|---|---|
| Spain | 625 | 775 | 1,031 |
| The United States | 232 | 294 | 475 |
| Turkey | 610 | 424 | 437 |
| Mexico | 1,717 | 1,693 | 1,857 |
| South America | 424 | 416 | 490 |
| Rest of Eurasia | 122 | 117 | 126 |
| Corporate Center (**) | -843 | -959 | -984 |
(*) This consensus does not include the impact on net attributable profit from the JV with Allianz (+300 Mn€) nor from the sale of BBVA USA (approx. +580 Mn€). It includes the estimates of 17 analysts. Updated as of November 17th, 2020. (**) -2,927 Mn€ in 2020 including the goodwill impairment in BBVA USA (-2,084 Mn€).
