8
| 1Q10 | BBVA Group highlights | Group information | Risk and economic capital management | Business areas | Corporate responsibility |
Positive contribution with a high level of
recurrence of units in WB&AM markets, founded
upon its customer-relation based business model.
Correct execution of the adjustment of the
portfolio durations of the Assets and Liabilities
Committee (ALCO). Significant earnings were
achieved without consuming the unrealized capital
gains present in December 2009.
The other income items also contributed positively:
fees and commissions experienced year-on-year
growth and the equity-accounted income increased
with the contribution from CNCB.
Stabilization of expenses and the risk premium.
Relevant events
Earnings
Business activity
Capital base
The BBVA share
Consolidated income statement: quarterly evolution
(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
Net one-offs (1)
Net attributable profit (excluding one-offs)
Earnings per share
Basic earnings per share (euros)
Basic earnings per share excluding one-offs (euros)
2010 2009
1Q 4Q
3Q
2Q
1Q
(1) In the third quarter of 2009, capital gains on the sale-and-leaseback of properties which have been allotted to generic provisions for NPLs with no effect on net attributable profit. In the
fourth quarter the extraordinary allocation to provisions and the goodwill impairment, both in the United States.
Limited impact of exchange rates, since the
devaluation of the Venezuelan bolivar was
compensated for with appreciations of other
currencies affecting the Group’s income statement.
Generation of earnings that were almost entirely
organic.
The comparison between the income statements from
the first quarter of 2010 with that of the fourth
quarter 2009 is difficult to interpret because the latter
includes the effect of the hyperinflation in Venezuela
for all of 2009 in said quarter. The impact of
hyperinflation in the first quarter of 2010 is fairly
insignificant.
3,386 3,589 3,434 3,586 3,272
1,106 1,163 1,086 1,102 1,079
633 420 325 435 364
25 153 42 207 41
57 114 (21) 22 4
93 (149) 128 140 128
5,301 5,290 4,995 5,492 4,889
(2,118) (2,254) (2,017) (2,018) (2,070)
(1,149) (1,233) (1,126) (1,130) (1,161)
(796) (852) (716) (710) (733)
(174) (169) (174) (178) (175)
3,183 3,036 2,979 3,474 2,819
(1,078) (1,787) (1,741) (1,029) (916)
(170) (224) (82) (48) (104)
(72) (1,240) 791 (228) 36
1,862 (214) 1,947 2,168 1,834
(510) 277 (457) (480) (480)
1,352 63 1,490 1,688 1,354
(113) (31) (110) (127) (116)
1,240 31 1,380 1,561 1,238
- (1,050) - - -
1,240 1,081 1,380 1,561 1,238
0.32 0.01 0.37 0.42 0.34
0.32 0.29 0.37 0.42 0.34
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