Earnings

BBVA Chair Carlos Torres Vila gave the opening presentation at the BBVA Mexico's annual National Meeting of Regional Advisors 2024, the Group's flagship summit in Mexico. Addressing more than 400 business leaders, he reasserted BBVA's commitment to Mexico by announcing that the bank's investments in the country will reach 81.4 billion pesos, or around €4.45 billion, well above the amount originally foreseen in the 2019-2024 plan.

At the presentation of first-quarter results, CEO Onur Genç said that BBVA expects improved profit both this year and next year compared to the same period of 2023. Specifically, "Our outlook for net attributable profit this year improves to double-digit growth. I see an even better 2025 versus 2024," he said. Genç also anticipates higher recurring revenue in the BBVA Group account in 2024, thanks to an improvement in the forecast for net interest income in Spain.

Garanti BBVA announced its financial results for the first quarter of 2024. The bank’s net income for the first three months of the year stood at TL 22.48 billion; total  assets were TL 2.46 trillion; and cash and non-cash loans reached TL 1.85 trillion. Customer deposits represented 71 percent of assets - the main source of funding. The total deposit base reached TL 1.75 trillion, up 9.3 percent this quarter.  Garanti BBVA’s capital adequacy ratio was 15.4 percent,*  its return on average equity (ROAE) was 36 percent, and return on average assets (ROAA) was 3.9 percent.

*Does not include  the forbearance introduced by BRSA

BBVA’s senior leadership predicted on Tuesday that the bank has the ability to enhance its results in 2024, after publishing record-breaking profit in 2023. BBVA Chair Carlos Torres Vila underscored that “2023 was an excellent year for BBVA and 2024 will be even better.” This growth, he explained, will allow BBVA to have a greater impact on its shareholders, customers, employees and society as a whole. “Our net attributable profit will continue to grow this year,” stated CEO Onur Genç during the presentation of the bank’s annual results in Madrid.

During the earnings presentation for the third quarter, BBVA’s CEO, Onur Genç, explained that these results allow the bank to make a balanced contribution to social well-being by responding to the needs of all stakeholders: employees, suppliers, shareholders, customers and society as a whole. Looking ahead to 2024, he expects the bank’s results to exceed this year’s and therefore its contribution to society will be even greater.

BBVA’s Turkish franchise, Garanti BBVA has released its financial statements through September 30, 2023. The bank’s net income for the first nine months of the year was TL 57.6 billion, while assets stood at TL 1.97 trillion. Garanti BBVA’s support for the economy in the form of cash and non-cash loans now stands at TL 1.45 trillion.

BBVA CEO Onur Genç said on Monday that he has “confidence in the sustainability of BBVA’s results in the future.” This is due to the fact that the bank has certain structural advantages that go beyond the specific market context: its strategy, leveraged in digitization, innovation and sustainability; its leading, profitable franchises; and its presence in attractive markets with potential for growth". In his opinion, “We have room to increase these earnings in the coming years,” he said at the 14th Financial Meeting organized by KPMG and Spanish business daily Expansión.

Garanti BBVA has released its earnings through June 30, 2023. The bank’s net income for the first half of the year totaled TL 33.81 billion; asset size stood at TL 1.89 trillion; and Garanti BBVA contributed TL 1.31 trillion to the economy through cash and non-cash loans. Customer deposits reached TL 1.40 trillion for the first six months of 2023, and remained the main source of funding, with 74 percent of assets funded by deposits. The bank’s capital position continues to be strong with a capital adequacy ratio of 15.8 percent.* Its return on average equity (ROAE) reached 38.3 percent and return on average assets (ROAA) was 4.2 percent.

Türkiye’s Garanti Bank earned a net income of TL 15.5 billion in the first quarter of the year. Total assets stood at TL 1.5 trillion and the bank contributed TL 1.1 trillion to the economy through lending activity. Customer deposits reached TL 1.0 trillion (+14 percent this quarter) and remain the primary source of funding, with 70 percent of assets funded by deposits. Garanti Bank continues to have a strong capital position, with a ratio of 15.9 percent¹. Its ROAE was 38.2 percent in the first three months of the year, and ROAA stood at 4.5 percent².

BBVA’s record profit for 2022 was warmly received by the market. Analysts have raised their valuations of the bank following the results release, given the strength of the figures and the bank’s guidance for 2023. During the February 1, 2023 trading day, the bank's share price climbed 4.7%.

BBVA Chair Carlos Torres Vila spoke of the vital role that banks play in the economy when presenting the 2022 results. “Banks act as catalysts of activity by granting credit to the real economy,” he said. “This may be banks’ greatest contribution to society,” he added. In this regard, he underlined that in 2022, the BBVA Group granted nearly €200 billion in new financing to businesses. At the press conference, BBVA CEO Onur Genç also shared the bank’s outlook for 2023.

Garanti BBVA released its financial statements dated June 30, 2022. Based on the consolidated financials, the Bank posted net income for the first 6 months of the year of TL 21.18 billion. Assets came to TL 1,096 billion, while the Bank’s contribution to the Turkish economy through cash and non-cash loans was TL 799.5 billion.

Garanti BBVA recently released its 2021 results, posting the highest growth in Turkish lira (TL) loans among private banks. The total amount of cash and non-cash loans for the year was TL 609.74 billion, and assets reached TL 849.40 billion. Deposits remained the primary source of funding, representing 69 percent of total assets, or TL 582.26 billion and growth of 63 percent over the year.  Garanti BBVA’s strong capital position remains, with a capital adequacy ratio of 13.98 percent (not including temporary measures taken by Turkey’s financial regulator, the BRSA). The return on average equity (ROAE) was 19.0 percent and the return on average assets (ROAA) was 2.0 percent (excluding one-off items).  The bank’s net income for the year was TL 13.59 billion.

Türkiye Garanti Bankası A.Ş., has just reported its financial statements as at 30 September 2021. Based on the consolidated financials, the Bank’s net income in the first 9 months of the year was recorded as TL 9.071,591k. Realized Assets were reported of TL 630,848,420,000and the Bank’s contribution to the economy via cash and non-cash loans was TL 499,840,175k. Focusing on customer happiness, deposits continued to be the main funding source; 68% of assets are funded via deposits. The deposit base reached TL 428,204,119k, with 20% growth in the year’s first 3 quarters. Maintaing the strong capital stance, the bank’s capital adequacy ratio was realized at 15.65% (Except for temporary measures taken by BRSA)(. The Bank delivered an ROAE (Return on Average Equity) of 19.2%** and an ROAA (Return on Average Assets) of 2.2% ( In calculations of average return on assets and average return on capital, one-off items are not included in annualization of net profit.).

Türkiye Garanti Bankası A.Ş., announced its financial statements dated 30 June 2021. Based on the consolidated financials, the Bank’s net income in the first 6 months of the year was recorded as TL 5 billion 437 million 136 thousand. Asset size realized at TL 607 billion 787 million 125 thousand and the Bank’s contribution to the economy through cash and non-cash loans was TL 473 billion 179 million 816 thousand.

The BBVA Group obtained a net attributable profit of €1.21 billion in the first quarter of 2021 - a figure that shows a return to levels prior to the outbreak of the COVID pandemic. These results were achieved thanks to strong recurring revenue - despite the complex environment - and lower impairments and provisions compared to those made in the first quarter of 2020 in anticipation of the crisis. “In the first quarter of 2021, we produced positive results in an environment that continues to be very challenging. In a context of profound change in our sector, we continue to move forward in key areas of our strategy: sustainability and digital transformation,” said Onur Genç, CEO of BBVA.

The BBVA Group earned €1.21 billion in 1Q21, in line with quarterly earnings prior to the pandemic. In the year ago period, BBVA posted a €1.79 billion loss when it recorded a goodwill adjustment in its U.S. subsidiary and higher impairments. This quarter’s result was driven by strong recurring revenue and lower impairments and provisions than in 1Q20. Thanks to these earnings, BBVA generated 15 basis points of capital in the January-March period.

Türkiye Garanti Bankası A.Ş., announced its financial statements dated 31 March 2021. Based on consolidated financials, the Bank’s net income in the first three months of the year were recorded as TL 2.54 billion. Asset size realized at almost TL 569 billion and the Bank’s contribution to the economy through cash and non-cash loans was arround TL 446 billion. Actively managing the funding base, deposits continued to be the main funding source; 65% of assets were funded via deposits.

In a year marked by the pandemic, BBVA produced solid results thanks to its strong income and cost containment measures. The bank's results improved as the year progressed, mainly due to lower provisions in the second half of the year. “In 2020 we achieved excellent results in a year of great complexity. We have also announced a historic transaction for BBVA: the sale of our U.S. subsidiary. An operation that puts us in an unparalleled position of strength in the sector, allowing us to increase shareholder distributions,” said BBVA chairman Carlos Torres Vila.