EARNINGS
The Group’s net attributable profit in the first
quarter of 2010 amounted to €1,240m. Proper
diversification of operating revenue by business,
geography, product line and customer segments,
together with containment of expenses, constitute the
fundamental characteristics that have allowed BBVA
to continue generating positive, solid, recurrent
earnings throughout several consecutive quarters in
this time of global economic-financial crisis. The
primary characteristics of each are listed below:
Strength of the net interest income due to both
commercial management (proper mix of products
and segments and keeping customer spreads) and
management of the balance sheet (sound structural
interest-rate and liquidity risk management).
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
Earnings per share calculation
Basic earnings per share (euros)
1 st Quarter 10 1 st Quarter 09
Δ%
3,386 3.5 5.9 3,272
1,106 2.5 3.1 1,079
633 74.0 68.6 364
25 (39.0) (38.6) 41
57 n.m. n.m. 4
93 (27.3) (38.5) 128
5,301 8.4 9.5 4,889
(2,118) 2.3 4.3 (2,070)
(1,149) (1.1) 0.7 (1,161)
(796) 8.6 10.5 (733)
(174) (1.0) 2.9 (175)
3,183 12.9 13.2 2,819
(1,078) 17.7 15.6 (916)
(170) 63.2 63.0 (104)
(72) n.m. n.m. 36
1,862 1.5 2.9 1,834
(510) 6.2 7.4 (480)
1,352 (0.1) 1.3 1,354
(113) (3.0) 14.5 (116)
1,240 0.2 0.3 1,238
0.32 (4.4) 0.34
Δ% at constant
exchange rates
| 1Q10 |
7
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