6
3Q09
In the third quarter of 2009 the BBVA Group’s earnings
remained in line with those of previous quarters:
Recurrent revenues, owing to successful
management of prices and of structural risks on the
balance sheet.
The cost containment measures in recent years
continue to provide benefits, as reflected by the
year-on-year decline in operating costs.
The above factors contributed to the strength of
operating income, with positive participation from
all the Group’s business areas.
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)
Earnings
(1) In 2008, capital gains from Bradesco in the first quarter and extraordinary charges for early retirements in the second quarter. In the third quarter of 2009, capital gains on the sale
and lease-back of properties which have been allotted to generic provisions for NPLs.
Improved solvency: BBVA generated capital gains
by the sale and lease-back of a number of branches
in Spain. The entire amount was allocated to
generic loan-loss provisions with the goal of
strengthening the Group’s balance sheet.
Impairment losses on financial assets in the quarter,
expressed as a percentage of operating income and
excluding the additional provisions mentioned
above, remained unchanged.
Net attributable profit was stable, supported by
contributions from all business areas. The
Δ% at constant
Jan.-Sep. 09 Δ% Jan.-Sep. 08
exchange rates
10,292 19.7 23.5 8,599
3,267 (4.5) (1.9) 3,422
1,124 (20.8) (18.9) 1,419
290 (27.9) (28.2) 402
6 (97.8) (97.8) 268
399 28.9 34.0 309
15,378 6.6 9.7 14,420
(6,105) (2.4) (1.0) (6,252)
(3,417) (3.1) (2.0) (3,528)
(2,159) (2.4) 0.2 (2,213)
(528) 3.2 0.7 (512)
9,274 13.5 18.1 8,167
(3,686) 77.1 84.1 (2,082)
(234) (60.6) (59.9) (594)
597 (25.9) (25.2) 805
5,950 (5.5) (1.9) 6,298
(1,418) (7.3) (4.1) (1,529)
4,532 (5.0) (1.2) 4,768
(353) 32.0 26.1 (268)
4,179 (7.2) (3.0) 4,501
- n,s n,s 180
4,179 (3.3) 1.3 4,321
3,715 0.1 3,713
1.12 (7.2) 1.21
1.12 (3.3) 1.16
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