6
2Q09
In general the BBVA Group’s performance in the
second quarter of 2009 was a continuation of the
trends observed in recent periods.
Revenues were strong, maintaining the previous
rate of growth and high degree of recurrency.
Costs remained under control owing to
transformation plans implemented in previous
years. These should provide further benefits in the
future.
Operating income was stable and solid, and all the
Group’s business areas made positive contributions.
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 and extraordinary charges for early retirements in the second quarter.
Earnings
Income generated amply exceeded impairment on
financial assets.
As a result net attributable profit in the second
quarter of 2009 came to €1,561m, which was €75m
more than the same quarter of 2008 if one-off
operations are excluded.
In the first half-year, net attributable profit came to
€2,799m, which was 10.0% less than the same period
last year. However in the first six months of 2008 one-
off operations contributed €180m after tax on the sale
of the Group’s stake in Bradesco (€509m) less a charge
for early retirements (€329m). If these items are
Δ% at constant
1H09 Δ% 1H08
exchange rates
6,858 23.5 25.6 5,555
2,181 (4.5) (3.1) 2,284
799 (31.1) (30.1) 1,159
248 2.8 2.2 241
27 (84.6) (84.6) 173
268 26.0 28.4 213
10,380 7.8 9.5 9,626
(4,088) (1.6) (1.4) (4,154)
(2,291) (2.2) (2.1) (2,343)
(1,443) (2.0) (0.8) (1,473)
(354) 4.8 0.8 (338)
6,293 15.0 18.0 5,472
(1,945) 67.1 72.7 (1,164)
(153) (75.1) (74.5) (612)
(192) n.m. n.m. 794
4,003 (10.9) (9.0) 4,490
(961) (20.8) (19.2) (1,213)
3,042 (7.2) (5.2) 3,277
(243) 44.1 34.8 (169)
2,799 (10.0) (7.6) 3,108
- n.m. n.m. 180
2,799 (4.4) (1.7) 2,928
3,703 (0.4) 3,717
0.76 (9.6) 0.84
0.76 (4.1) 0.79
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