Operating costs
(Million euros)
2,084 2,203
2,069 2,099 2,070 2,017 2,017
(1) At constant exchange rate: –1.0%.
The number of employees and branches continue to be
affected by cost contention plans with declines in all
business areas except the United States, due to the
addition of Guaranty Financial Group (Guaranty).
Thus, excluding Guaranty, at 30-Sep-09 the workforce
stood at 102,962, compared to 103,655 at 30-Jun-09;
the branch network stood at 7,390 compared to 7,458
at 30-Jun-09. Guaranty adds to the Group 1,761
employees and 164 branches.
Number of employees
Spain
Mexico
South America
The United States
Rest of the world
1Q 2Q 3Q 4Q
1Q
2Q
3Q
2008
2009
29,887
36,066
30,918
29,070
34,535
30,022
13,774
13,371
13,295
September
December
September
2008 2008 2009
–2.4% (1)
6,252 6,105
Number of branches
Spain
Mexico
South America
The United States
Rest of the world
112,621 108,972 104,723
7,971 7,787 7,554
3,547
2,050
3,375
1,576
1,574
1,497
653 641 778
September
December
September
2008 2008 2009
2,052
28,506
32,573
28,414
3,147
1,987
Efficiency
(Percentages)
Gross income variation 9M09/9M08
Operating costs variation 9M09/9M08
Efficiency (measured by the cost/income ratio) was
39.7% in the third quarter, a considerable improvement
over 43.4% in the same period last year and thus
BBVA confirms its status as one of the most efficient
international banks.
The combined performance of revenues and costs
boosted the strength of operating income 10.6% to
€2,981m in the third quarter. This was also the second
highest amount ever obtained by BBVA. And the
amount for the first nine months rose 13.5%
year-on-year to €9,274m (up 18.1% at constant
exchange rates).
It is worth noting that all business areas contributed to
operating income, specifically: €3,463m in Spain &
Portugal, €1,015m in Wholesale Banking & Asset
Management (WB&AM), €2,564m in Mexico,
€657m in the United States and €1,684m in South
America.
6.6
Operating income
(Million euros)
(1) At constant exchange rate: +18.1%.
3Q09 GROUP INFORMATION
Earnings
Efficiency ratio
43.4 44.6
Jan.-Sep. 2008 Jan.-Sep.
—2.4 2008 2009
3,474
2,688 2,784 2,981
2,695 2,819
2,355
1Q 2Q 3Q 4Q
1Q
2Q
3Q
2008
2009
+13.5% (1)
8,167 9,274
39.7
11
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