BBVA’s net income for the three months ended
March has fallen by 7.3% to €1.15bn ($1.67bn) from a year
ago.
The group’s net interest income in the first
quarter of fiscal 2011 declined by 6.3% to €3.2bn compared with the
corresponding period last year.
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Net commission income was up by only less than
1% year on year to €1.1bn.
Gross lending to customers increased by 2.7%
to €346.8bn in the first quarter, while customer funds rose by 4.1%
to €534bn.
BBVA had a global branch network of 7,412 at
the end of March, 57 less than the same time last year.
The bank’s ATM network compromised 17,564 by
the end of the first quarter, 1,548 more units than a year ago.
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By GlobalDataThe ATM network also included BBVA’s new ATM’s, called Abil.
Net income in home market slumps
33%
Net income from the bank’s operations in Spain
for the three month period to the end of March was 33.3% lower
compared with last year, totalling €477m.
Net interest income slumped by 14.9% from the
year-ago quarter to €1.1bn and net commission income fell 11.3%
€392m.
On a positive note, customer deposits soared
by 31.4% from a year ago to €124.5bn.
In Eurasia, Garanti boosts balance
sheet
BBVA’s businesses in the rest of Europe and
Asia posted more positive results, having generated a net income of
€198m in the first quarter this year – 60.6% higher than last
year.
The results included the consolidation of
Turkish lender Garanti, in which it acquired a 24.9% stake in
2010.
Net interest income rose by 28.6% year on year
to €104m, while net fee and commission income increased by 12.4% to
€63m.
Customer deposits at BBVA’s Eurasia division
remained stable compared with the first quarter of last year,
declining by just under 1% to €28.1bn.
Net income in Mexico a quarter higher
than last year
Mexico was another successful business unit in
the first quarter of fiscal 2011:
The division boosted net income for the period
to 31 March by 25.5% compared with a year ago to €436m.
Net interest income rose by 12.4% to €967m
year on year and net fee and commission income increased by 6.8% to
€299m.
BBVA’s Mexico business generated customer
deposits of €37bn by the end of March, 7.3% higher than the
corresponding period last year.
South America
BBVA’s South American businesses generated
first quarter net income of €419m, up by over a fifth compared with
last year’s figures.
The unit boasted strong results both in net
interest income of €694m – up by 25%– and net fee and commission
income of €253m – up by 17.2% versus the year-ago quarter.
Customer deposits increased by 15% year on
year to €33bn and the unit’s total assets amounted to €51.9bn as of
31 March, 19% higher than last year.
BBVA Compass net income soars
45%
BBVA’s net income from its US operations, BBVA
Compass, surged by 45.2% year on year, recording €81m in the first
quarter of this year.
However, net interest income fell by 8.1% from
a year ago to €402m and net fee and commission income declined by
3.3% to €155m.
Customer deposits also took a dip when
compared with last year’s results, totalling €39.4bn at the end of
March and down by 41%.
On a positive note, the unit’s net provisions
declined by 29% year on year to €8m, while impairments on financial
assets slumped by 33.6% to €107m.
