6
1Q09
The BBVA Group’s income statement in this quarterly
report reflects the new criteria and formats established
by Bank of Spain Circular 6/2008 of 26th November
2008. This circular modifies Circular 4/2004, which
until now was the basis for presenting the Group’s
quarterly reports. The changes do not affect pre-tax
profit or net attributable profit but some of the other
items on the income statement have been modified.
The main differences are:
There is a new definition of net interest income,
which excludes dividends but includes the income
and interest expense for insurance activities.
Consolidated income statement
(Million euros)
NET INTEREST INCOME
Net fees and commissions
Net trading income
Dividend income
Income by the equity method
Other operating income and expenses
GROSS INCOME
Operating costs
Personnel expenses
General and administrative expenses
Depreciation and amortization
OPERATING INCOME
Impairment on financial assets (net)
Provisions (net)
Other gains (losses)
INCOME BEFORE TAX
Income tax
NET INCOME
Minority interests
NET ATTRIBUTABLE PROFIT
One-off operations (1)
NET ATTRIBUTABLE PROFIT (excluding one-off operations)
EARNINGS PER SHARE CALCULATION
Average ordinary shares in circulation (million)
Basic earnings per share (euros)
Basic earnings per share excluding one-offs (euros)
(1) In 2008, capital gains from Bradesco in the first quarter.
Earnings
Income from insurance activities disappears and
these earnings are now included mainly under net
interest income and under “Other operating
income and expenses”.
“Ordinary revenues” no longer exists and there is
a new item, gross income, which differs from the
old one in that “Other operating income and
expenses” includes some concepts that were
previously reported under ordinary revenues, such
as net revenues from non-financial activities,
contributions to deposit guarantee funds and
items that were included under “Other income
(losses)”. Furthermore, it excludes capital gains on
Δ% at constant
1Q09 Δ% 1Q08
exchange rates
3,272 20.1 22.6 2,726
1,079 (4.6) (2.8) 1,131
364 (38.4) (36.8) 591
41 (26.0) (27.0) 56
4 (96.9) (96.9) 139
129 (1.0) 1.7 130
4,889 2.5 4.6 4,772
(2,070) (0.7) (0.1) (2,084)
(1,161) (1.4) (0.9) (1,178)
(734) 0.6 2.2 (730)
(175) (0.9) (3.8) (177)
2,819 4.9 8.3 2,688
(916) 64.7 72.4 (557)
(104) (28.1) (22.2) (145)
36 (95.5) (95.4) 797
1,834 (34.1) (32.8) 2,783
(480) (34.9) (33.6) (738)
1,354 (33.8) (32.4) 2,045
(116) 23.7 15.2 (94)
1,238 (36.6) (35.0) 1,951
- n.m. n.m. 509
1,238 (14.2) (11.2) 1,442
3,668 (1.3) 3,716
0.34 (35.7) 0.53
0.34 (13.1) 0.39
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