BBVA publishes its results for the first quarter of 2024
BBVA has reported a net attributable profit of 2,063 million euros for the first quarter of 2024, 4.4% more then in the same period of the previous year. The positive results are driven by the bank’s global diversification and efficient management.
Key highlights of the results:
Net attributable profit: 2,063 million euros (+4.4% YoY)
Revenue: 7,744 million euros (+11.3% YoY)
Efficiency ratio: 48.3%
NPL ratio: 2.1%
CET1 capital ratio: 12.7%
BBVA continues to demonstrate its resilience and ability to generate enduring profitability in a challenging macroeconomic environment. The bank’s strong performance is underpinned by its customer-centric approach, digital change, and commitment to responsible banking.
Geographical performance:
Spain: Net attributable profit of 644 million euros (+11.3% YoY)
Mexico: Net attributable profit of 784 million euros (+3.8% YoY)
United States: Net attributable profit of 344 million euros (+16.8% YoY)
Rest of the world: Net attributable profit of 291 million euros (+1.9% YoY)
BBVA’s diversified geographical footprint allows it to mitigate risks and capitalize on growth opportunities in different markets. The bank is well-positioned to continue delivering strong results in the future.
Strategic priorities:
BBVA remains focused on its strategic priorities, which include:
Digital transformation: Investing in technology to enhance customer experience and improve efficiency.
Sustainable banking: Integrating environmental, social, and governance (ESG) factors into its business strategy.
Customer centricity: Putting customers at the heart of everything it does.
Responsible growth: Pursuing profitable growth while managing risks effectively.
BBVA is committed to creating long-term value for its shareholders, customers, and the communities it serves.
Further information:
BBVA Results First Quarter 2024
* BBVA First Quarter 2024 Presentation
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