Q2 2024 Banco Bilbao Vizcaya Argentaria SA Earnings Call Transcript
Key Points
- Banco Bilbao Vizcaya Argentaria SA (BBVA) reported a record net attributable profit of EUR 2,794 million for the quarter, a 38% increase year-over-year.
- Earnings per share grew by 42% year-over-year, driven by share buyback programs.
- The CET1 capital ratio remains strong at 12.75%, well above regulatory requirements.
- Return on tangible equity reached an outstanding 20%, a significant milestone for the bank.
- Gross income showed impressive growth, increasing by 31% year-over-year in constant euros.
- The CET1 capital ratio decreased by 7 basis points in the quarter, impacted by market conditions and strong lending growth.
- The cost of risk increased to 142 basis points, driven by growth in high-risk retail segments and emerging markets.
- The Mexican peso depreciation had a negative impact on the quarter's results.
- The efficiency ratio, although improved, still reflects a need for continued cost management.
- The bank faces potential challenges in the antitrust approval process for the Sabadell takeover bid.
Good morning and welcome to BBVA's second quarter results conference call. I'm joined today by Onur Genc, our CEO; and Luisa Gomez Bravo, the Group CFO. As in previous quarters, Onur will start reviewing the group figures, followed by Luisa, who will go through the business areas results. Then, Onur will give a brief update on the offer to Sabadell shareholders, and finally, we will open the live to receive your questions. Thank you very much for participating, and now I turn the call over to Onur.
Thank you. Thank you, Patricia. Good morning to everyone. Welcome and thank you for joining BBVA's second quarter 2024 earnings webcast.
Let's jump into the presentation as always, starting with slide number 3. On the left-hand side of this page, you can see our net attributable profit in the quarter reaching EUR2,794 million showing obviously another
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
