2015 Third Quarter Results
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BBVA reported its third quarter 2015 results with net attributable profit of €1,074 million, up 14.5% from the third quarter of 2014. Gross income totaled €5,980 million, up 23.2% from the third quarter of 2014. Cost of risk and loan-loss provisions increased 9% compared to the third quarter of 2014 but risk indicators continue to improve. Digital customers reached 40 million, up 21% from September 2014, demonstrating the success of BBVA's digital transformation.
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2015 Third Quarter Results
- 1. vs. 3Q14 € 784 M € 2,815 M +30.4% vs. 9M14+45.9% 3Q15 9M15 2015 Third Quarter Results Net attributable profit € 5,980 M € 1,074 M +14.5% +23.2% Constant € 3Q15 vs. 3Q14 3Q15 1.10% Gross income vs. 3Q14 Impacted by market environment Cost of Risk and Loan-loss provisions + RE impairments Cost of risk YTD Loan-loss provisions + Real-estate impairments 3Q15 +9% vs. 3Q14 € 2,673 M +21.1% Constant € vs. 3Q14 Operating income Risks Indicators continue to improve 5.6% NPL ratio 74% Coverage ratio CET1 Ratios 11.7% Leverage ratio 5.7% Fully-loaded Fully-loaded 9.8% Phased-in Capital Garanti Bank Closing Digital customer base Distribution model Digital sales Digital customers Mobile customers 14.0 M 40 M -41%+21% vs. Sep14 vs. Sep14 vs. 2009 7.6 M +51% Maintaining positive jaws Improvement in risk indicators Solid capital ratios (Figures include Turkey) Transformation on track Branch activity 23.7% Digital consumer loans BBVA Spain - % of new loansBBVA Spain - Transactions*BBVA Group BBVA Group Good performance of recurring income (Ex. corporate operations) *Annualized September 2015 figures Footprint • In spite of slowdown, 2-3% GDP growth rate is expected Macro Outlook South America • Affected by foreign and domestic headwinds • Positive growth in the Pacific Alliance Mexico • Resilient economy • Recovery linked to the US economy USA • Solid domestic demand • Gradual interest rate hike Spain • Solid GDP growth Turkey • High growth trend despite geopolitical risk Since the third quarter of 2015, the total stake in Garanti (39.90%) is consolidated by the full integration method. For previous years, the financial information provided in this document is presented integrated in the proportion corresponding to the percentage of the Group’s stake at that time (25.01%). Improvement in cost of risk
- 2. USA € 410 M +12.1% vs. 9M14 vs. 9M14 Constant € € -407 M Spain * According to Bank of Spain's "RE transparency scope" (Circular 5-2011) € 1,101 M +32.0% vs. 9M14-36.0% Activity dynamism New loan production dynamism Loan-loss provision reduction Distribution model transformation Market: increase in demand BBVA: maximizing value of sales Market: mortgages benefit from low interest rates Good P&L trends Positive sensivity to rising interest rates 2015 Third Quarter Results Net attributable profit Net attributable profit Net attributable profit 9M15 Results 9M15 Results Net exposure* TurkeyConstant € € 249 M +7.3% vs. 9M14 Excellent NII performance Negative trading income Outstanding asset quality 9M15 Results Net attributable profit € 1,513 Mexico Constant € +9.6% vs. 9M14 Double-digit business activity growth Portfolio mix change Sound and improving risk indicators 9M15 Results Net attributable profit € 689 M +7.1% vs. 9M14 Activity dynamism translated into P&L Investing in transformation Andean region growth 9M15 Results Net attributable profit Banking activity RE Activity S. America Constant €Ex. Ven. -3.2%vs. 9M14