12
GROUP INFORMATION 4Q09
Earnings
Operating costs, depreciation and efficiency
(Million euros)
PERSONNEL EXPENSES
Wages and salaries
Employee welfare expenses
Training expenses and other
GENERAL AND ADMINISTRATIVE EXPENSES
Premises
IT
Communications
Advertising and publicity
Corporate expenses
Other expenses
Levies and taxes
ADMINISTRATION COSTS
DEPRECIATION AND AMORTIZATION
OPERATING COSTS
GROSS INCOME
EFFICIENCY RATIO
(Operating costs/gross income,%)
In the fourth quarter the number of employees stopped
falling and ended the year at 103,721 (down 4.8%
year-on-year) thanks to the transformation plans. The
main changes in the year took place in the United
States with a reduction in the first quarter that was
partially offset by the incorporation of Guaranty in the
third. At 31-Dec-09 the Group had 7,466 branches,
down 321 from 31-Dec-08 reflecting the ongoing
restructuring process. In Spain the reduction has been
2009
underway since the end of 2006, which means that
BBVA made the move 2 years in anticipation to the
trend followed afterwards by the sector.
Efficiency (cost/income ratio) improved compared to
2008, thanks to higher revenues and cost
containment, and now stands at 40.4% (44.6% at
31-Dec-08). This figure means BBVA is still one of
the most efficient banks in its peer group.
Δ%
4,651 (1.4) 4,716
3,607 0.4 3,593
643 (7.3) 693
401 (6.7) 430
3,011 (1.0) 3,040
643 4.2 617
577 (3.5) 598
254 (2.2) 260
262 (4.0) 272
80 (27.7) 110
929 4.7 887
266 (9.7) 295
7,662 (1.2) 7,756
697 (0.3) 699
8,358 (1.1) 8,455
20,666 8.9 18,978
40.4 44.6
2008
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