The BBVA Group’s net profit in 2015 came to €2.64 billion, slightly more than the previous year (up 0.9%). Without currency effects net attributable profit was up 4.4%. Excluding corporate operations in 2015, net income from ongoing operations was €3.75 billion, up 43.3% over 2014.
The BBVA Group’s net profit in 2015 came to €2.64 billion, slightly more than the previous year (up 0.9%). Without currency effects net attributable profit was up 4.4%. Excluding corporate operations in 2015, net income from ongoing operations was €3.75 billion, up 43.3% over 2014.
El Grupo BBVA ganó 2.642 millones de euros en 2015, cifra ligeramente superior a la del año anterior (+0,9%). El crecimiento del beneficio atribuido sin el efecto de las divisas alcanzó el 4,4%. Al excluir el resultado de las operaciones corporativas cerradas en 2015, el beneficio atribuido ascendió a 3.752 millones de euros, un 43,3% más que en 2014.
Consolidated net profit, attributable to the shareholders of the parent, for the first nine of 2018 was US$159 million, 5% higher compared to US$151 million reported for the same period previous year evidencing improving operating performance and cost of credit despite external headwinds.
Tricumen 2Q16 Capital Markes Results Review_open 290816Tricumen Ltd
The 1H16 operating revenue reported by banks in this report totalled $86bn. This was 14% below 1H15. 2Q16 totalled $31bn, 12% down versus a prior-year period. In US dollar terms, issuance and advisory fees dropped 28% vs 2Q15 and equities by 20%, while FICC was essentially flat, with several banks reporting a surge in revenue spurred by Brexit. US banks increased their share of the peer group's pre-tax profit.
European Banking Authority's (EBA) stress test, published in July, managed to satisfy almost no-one: some deemed it too benign, others unrealistic. Both arguments make sense: EBA's test did not include sovereign defaults, mitigating actions by banks, Brexit, or an extended period of low-interest rate environment. Also, the EBA's test focuses on prudential regulatory measures which, in our view, do not reflect true market risks - and those, if the US regulators have their way, could feature in Basel 4, along with stronger capital rules for bank leverage.
This issue features reorganised definitions for several FICC products.
4Q results Core sales growth -3% –Adjusted EPS of $0.37 fff$%f FY16 free cash flow of $171 million, or 113% of adjusted net income Significant progress in portfolio management, cost reduction, management alignment Water Management performing well in favorable market environment Core operations deliver 20.3% adjusted EBITDA margin in fiscal 2016 Solid momentum in US nonresidential construction end markets Process & Motion Control outlook positive for aerospace, food & beverage Stabilizing sell-through in industrial distribution implies improving year-over-year comparisons Cambridge acquisition builds on leadership in food & beverage, expands consumer exposure Initiating guidance range for fiscal 2017 Adjusted EPS of $1.47-1.57 gggj$ Slow-growth end-market environment continues, but industrial MRO stabilizing Supply chain optimization & footprint repositioning on track to deliver $30 million annual savings
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
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In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
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Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
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3. 3
Political uncertainty
(Spain, USA, Turkey, etc.)
Negative
interest rates
in DM
Regulatory
uncertainty
Slowdown in Emerging
Markets
BBVA Strengths
Attractive business
model
Solid risk
management
Sound capital and
liquidity position
Superior earnings
power
Moving ahead in digital
Transformation
4. 4
Geographically diversified
Gross Income breakdown
1H2016 (%) (1)
Ranking
(#)
Mexico
Spain
Turkey
South America (ex Brazil)
23.8%
14.4%
11.8%
10.4%
Market
share (%)
USA (Sunbelt) 6.3%
1st
2nd
2nd
1st
4th
With leading franchises in our core markets
Market share and ranking by loans
Detail by country (2)
27% 11%
17%
2%
16%
27%
Mexico
3,309 €m
South America
1,999 €m
Rest of Eurasia
281 €m
Spain
3,304 €m
Turkey
2,154 €m
Gross
Income
1H16
USA
1,330 €m
(1) Figures exclude Corporate Centre. (2) Spain: market share data correspond to other domestic sector and public sector data as of June, 2016 (source: Bank of Spain) while the ranking has
been built using AEB and CECA data; Mexico: data as of June, 2016; South America: data as of June, 2016: ranking considering only our main peers in each country; USA: data as of June,
2015 market share and ranking by deposits considering only Texas and Alabama; Turkey: BRSA data for commercial banks as of June, 2016; ranking only considers private banks.
ATTRACTIVE BUSINESS MODEL
5. 5
85
90
95
100
105
110
115
120
2009 2010 2011 2012 2013 2014 2015 1H16
Resilient earnings
Gross income evolution
Base 100 = 2009
BBVA
European Peers Aggregate
(1)
0
0,02
0,04
Profit generation all through the crisis
€ Bn
(1) European Peer Group: BARC, BNPP, CASA, CS, CMZ, DB, HSBC, ISP, LBG, RBS, SAN, SG, UBS, UCG . (2) 1H2016 annualized for comparative purposes.
BBVA operating income
Provisions and impairment of non-financial assets (€bn)
Operating income / RWA in %
9,6 10,5
12,3 11,9
10,6 11,1
10,2 10,4
11,4
5,9
1,9
3,0
7,0
5,2
6,1
9,1
6,3
4,8 4,6
2,2
2007 2008 2009 2010 2011 2012 2013 2014 2015 1H16
3,6% 3,7% 4,2% 3,8%
3,2%
3,7%
3,3%
3,0% 2,8% 3,0%
2,5%
4,5%
ATTRACTIVE BUSINESS MODEL
(2)
6. 6
Profit generation in the adverse scenario
Cumulative 2016-2018 (€mn)
ATTRACTIVE BUSINESS MODEL
CET1 FL Evolution 2015-2018
Adverse scenario (bps)
… due to the ability to generate recurring results
BBVA is the only bank generating positive
results in 2016-2018 adverse scenario
The second smallest impact on CET1 FL
ratio in 2018 adverse scenario
CET1 FL
8.2%
Leverage
Ratio
5.1%
Source: BBVA based on 2016 EBA stress test.
Note: Peers included: BARC, BNPP, CASA, CMZ, DB, HSBC, ISP, LBG, RBS, SAN, SG and UCI.
BBVA 2018 Ratios
in adverse scenario
183
-445
-750
-998
-1.653
-2.779
-3.032
-4.542
-4.723
-4.918
-5.671
-8.522
BBVA
Peer 1
Peer 2
Peer 3
Peer 4
Peer 5
Peer 6
Peer 7
Peer 8
Peer 9
Peer 10
Peer 11
Peer 12
-15,193
-199
-208
-226
-236
-291
-312
-319
-329
-332
-341
-405
-471
-745
Peer 3
BBVA
Peer 1
Peer 5
Peer 2
Peer 8
Peer 4
Peer 10
Peer 6
Peer 7
Peer 11
Peer 9
Peer 12
7. 7(1) Data as of 1H16. Figures exclude Corporate Center (2) BBVA Research estimates. South America 2016 estimate based on BBVA’s footprint ex Venezuela, country weightings based on 1H16
Gross Income.
• NII Pressure due to low interest rate environment.
• Focus on cost control
• Maintaining positive trend in loan-loss provisions and impairments
• Ongoing RE exposure reduction and lower P&L negative impact
SPAIN
27%
+3.1%
• Positive NII performance and costs under control
• Lower Oil & Gas provisions than in 1Q16
• CCAR test passed
USA
11%
+1.6%
• Solid revenue growth (>20%)
• Excellent cost management
• Outstanding bottom-line growth
TURKEY
17%
+3.5%
• Outstanding gross income performance and positive jaws in 1H16
• Bottom line double-digit growth
• Significant FX negative impact in 2016
MEXICO
27%
+1.8%
• Good revenue growth
• Cost of risk better than expected
• Significant FX negative impact in 2016
SOUTH
AMERICA
16%
1.6%
SUPERIOR EARNINGS POWER
Footprint positively geared to GDP growth
8. 8
Risk Framework
A Risk Management Model based
on prudence and proactivity
Risk Management Goal
To preserve the Group’s solvency,
support its strategy and ensure
business development
NPL ratio
Coverage ratio
Cost of Risk (1)
6,4 6,1
5,1
62
72 74
1,24 1,16 0,92
Jun. 14 Jun. 15 Jun. 16
(1) Accumulated Cost of Risk
SOLID RISK MANAGEMENT
9. 9
On track to achieve CET1 FL 11% target in 2017
10,71%
1,53%
3,02%
Tier II
AT 1
%CET1 FL
15.26%
Solid capital ratios
Fully-loaded capital ratios (2Q2016)
BBVA Group (%)
10,33%
10.71%
0,46%
-0.17%
0,09%
% CET1 FL (Dec.15) Net Earnings Dividends Others % CET1 FL (Jun.16)
Ability to generate capital
2016 CET1 fully-loaded evolution
(%)
CAPITAL & LIQUIDITY POSITION
CET1 phased-in:
12.03%
AT1 and T2 buckets
already covered
10. 10
53%
31%
BBVA European Peer
Group Average
#1
6,4%
4,5%
BBVA European Peer
Group Average
#1
(1) European Peer Group: BARC, BNPP, CASA, CS, CMZ, DB, HSBC, ISP, LBG, RBS, SAN, SG, UBS, UCG (2) Data as of Dec. 2015. Based on EBA’s 2016 EU-wide Stress Test.
RWAs: breakdown by type of risk (2)
Credit Risk RWAs: breakdown by Model(1)
Credit Risk
86%
Operational Risk
8%
Other Risk
1%
Market Risk
5%
66%
34%
Internal Models
Peers avg.: 66%
Standardized Models
Peers avg.: 34%
85% of RWAs related to Credit Risk
and 65% explained by Stand. model
High Quality Capital
RWAs/ Total Assets
2Q2016
Leverage ratio
2Q2016
(1)
(1)
CAPITAL & LIQUIDITY POSITION
11. 11
4,5
5
0,25
9,75
12
1,5
0,72
3,0
2016 CET1 minimum
requirement
Total Capital
Requirement
2Q16 Phased In
Total Capital Ratio
(1) Pillar 1 CRR art.92 + SREP requirements + G-SII B+ O-SII B+ CCyB.
2017 SREP requirements to be
communicated before year end
2017 SREP expected to include Total
Capital requirement
Possible introduction of Pillar II
guidance, improving distance to MDA
9.75%
13.25%
BBVA Group Capital
Requirements (1)
Overall capital requirements
expected to be stable
15.7%
PHASED-IN
4,5
5
0,5
10 10,7
1,5
1,5
2
3,0
2016 CET1 minimum
requirement
Total Capital
Requirement
2Q16 Fully-phased
Total Capital Ratio
CET1 P1 P2 (inc CCB) Systemic buffer CET1 AT1 Tier2
FULLY-PHASED
10%
13.5%
15.3%
BBVA Group Capital
Ratio (2Q16)
CAPITAL & LIQUIDITY POSITION
12. 12
Pillar 1
Pillar 2
Combined
Buffer
Requirement
Own funds Transitional Basel I Floor Leverate Ratio
requirement (3% of
Leverage exposure)
Pillar 1
Pillar 2
Combined
Buffer
Requirement
Own funds Transitional Basel I Floor Leverate Ratio
requirement (3% of
Leverage exposure)
MREL
Requirement
(1) Related to exclusions from bail-in or partial transfer which are an impediment to resolvability; business model, funding model and risk profile; size and systemic risk; contributions
by the deposit guarantee scheme to the financing of resolution.
1 Loss Absorption Amount
(The highest of the below)
2 Recapitalization Amount
(The highest of the below)
3
Other
adjustments (1)
(by Resolution
authority)
1
Calibration
Calendar
Eligibility of
instruments
Perimeter
Key themes to
manage
32
CAPITAL & LIQUIDITY POSITION
13. 13
Nov´14 Jul´15 Jan´16 Oct´16 Jan´20
Final
BRRD
Approval
EBA
Technical
Standard
Bail-in
enters
into force
• EBA&EU COM
review
• Q3: SRB first set
of MREL decisions
Four-year phase in
EBA public
consultation
Apr´14
Overall MREL requirements should
converge with TLAC
BBVA S.A: principal entity to which MREL
will be applied
Lack of visibility. More clarity expected
in 4Q16
No G-SIB, but considered O-SII
Strong starting point (CET1 FL for
BBVA S.A. 17,9% in 2Q16)
Treatment of subsidiaries
Spanish regulation allows the issuance of Subordinated
non-preferred securities as a segregated intermediate
class between senior unsecured debt and subordinated
debt
Strong similarity with “French non-preferred senior debt”
Necessity to achieve harmonization in
Europe with respect to the characteristics
of qualifying MREL instruments
Calibration
Eligibility of
instruments
Perimeter
Calendar
Key
Themes
in determination of
MREL needs
Europe has 15 G-SIBs (vs 30 G-SIBs in total)
Level playing field for G-SIBs and O-SIIs
Ambitions of SRB
CAPITAL & LIQUIDITY POSITION
14. 14(1) Outstanding amount as of June 30, 2016 (CX included).
3.414
13.367
4.445 4.497
21.920
2016 2017 2018 2019 >2020
Covered Senior Subordinated Preferred Other
Wholesale funding highlights
The maturity profile of our wholesale funding structure enables
a smooth substitution rate from traditional formats to MREL
compliant securities
Low funding needs for the remainder of 2016
Funding Maturities in the next 3 years roughly € 22 bn
Wholesale funding issuances
€ 1.1 bn Senior debtMay’15
$ 1 bn Senior debt (USA)Oct’15
€ 1.25 bn Covered BondNov’15
€ 1.0 bn Senior debtJan’16
€ 1.25 bn Covered BondMar’16
€ 1 bn AT1Apr’16
~€ 22 bn
Debt maturity profile (total debt: € 48 bn (1))
Jun-16 (€M)
In the medium-term, the liability structure of the balance sheet
should migrate towards a structure with more bailinable
instruments
CAPITAL & LIQUIDITY POSITION
15. 15
Supervision and control by the parent company
Independent ratings and liquidity management by subsidiaries
Market discipline and proper incentives
Firewalls between subsidiaries and the parent company
Proven resilience during the crisis
USA
Loan to deposits
95%
Turkey
Loan to deposits
106%
Mexico
Loan to deposits
92%
South America
Loan to deposits
103%
Figures as of June 2016.
CAPITAL & LIQUIDITY POSITION
16. 16
Technological levers
121
159
179 187
2009 2013 2014 2015
Moving to more efficient channels
Remote
managers
Web
80%
67
49 45 40
2009 2013 2014 2015
83%64% 76%
Branch transactions
Millions – BBVA Spain
Other Channel transactions
Millions – BBVA Spain
-41%
Automation index
Mobile
Source: BBVA; Automation index= Other Channel transactions/ Total transactions.
Software
Development of global
components + Agile
Process automation
Remote managers: +23% customers in portfolio vs. branch managers
TRANSFORMATION
Infrastructure
Lower and variable
cost of structures