In addition, the group recorded the best recurring result, ie profit in a given period, excluding exceptional income/expenses, in its history.
Euskaraz irakurri: BBVAk 1,651 milioiko irabaziak izan ditu martxora art, % 36.4 gehiago
The BBVA Group achieved an attributed result of 1,651 million euros during the first quarter this year, representing an increase of 36.4% at current exchange rates and 41% in constant euros, thanks to revenue growth, driven by the dynamism of the activity (+10.6%) and the improvement in risk indicators.
Between January and March of this year, the group recorded the highest net margin and the highest recurring win in its history (gain for a period, excluding exceptional income/expenses), up 68.4% compared to the recurring result of the first quarter of 2021, as reported by the entity.
Excluding the non-recurring effects in the first quarter of 2021, i.e. EUR 177 million before the result from discontinued operations and corresponding to BBVA USA and the rest of the businesses sold to PNC on June 1, 2021, the accrued income is of the group increased 59.8% year-over-year.
“In the first quarter of this year, we delivered great results, with good momentum across all business units, mainly due to revenue growth, driven by business dynamics, and also the improvement in risk indicators. The remarkable improvement in profitability and efficiency stands out, putting us at the forefront of our European competitors.These results confirm our confidence in achieving the targets we have set for 2024,” said BBVA CEO, Onur Genc .
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
