The financial institution will pay out 55 euro cents per share as cash dividend, 28% more than in 2022, and implement a new share buyback plan of 781 million euros.
He BBVA net profit made from 8019 million euros in 2023, a new historical record, exceeding the previous year’s result by 26.1%, thanks to the increase in recurring revenues, which benefited from greater commercial activity and the increase in rates.
The bank has also announced its intention to subject the payment of a dividend of €3.00 to the approval of the next General Meeting 55 cents per share in cash against these results, 28% more than last year, and to make a new share buyback for an amount of 781 million euros. In total, it will spend more than 4 billion euros on the reward of its shareholders.
As for the bank’s profitability, as determined by tangible equity or ROTE, stood at 17% compared to 15.1% in 2022, and the ROE, determined by the difference between net profit and equity, improved to 16, 2% compared to 14.4% previously.
Similarly, BBVA reports growth in lending in all business sectors – with the exception of the Spanish state, where it fell slightly – and an improvement in customer distribution, which increased the interest margin by 29% to 23,089 million euros.
Source: EITB
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