The earnings of the BBVA Group in 2009 and in last
quarter were as follows:
Strong net interest income reflecting suitable
management of pricing and balance sheet risk.
Strict cost control based on the Transformation
Plans implemented in recent years, which continue
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
Net one-offs (1)
NET ATTRIBUTABLE PROFIT (excluding one-off operations)
EARNINGS PER SHARE CALCULATION
Basic earnings per share (euros)
Basic earnings per share excluding one-offs (euros)
Earnings
to yield benefits in the form of year-on-year
reductions in operating costs.
Leading to buoyant operating income that grew
17.0% year-on-year, setting a new record of
€12,308m. All the Group’s business areas
contributed to the improvement.
Δ% at constant
2009 Δ% 2008
exchange rates
13,882 18.8 23.4 11,686
4,430 (2.1) 1.0 4,527
1,544 (0.9) 2.5 1,558
443 (0.9) (1.1) 447
120 (59.1) (59.0) 293
248 (46.9) (43.9) 466
20,666 8.9 12.8 18,978
(8,358) (1.1) 1.2 (8,455)
(4,651) (1.4) 0.6 (4,716)
(3,011) (1.0) 2.6 (3,040)
(697) (0.3) (0.8) (699)
12,308 17.0 22.3 10,523
(5,473) 86.1 94.7 (2,940)
(458) (68.0) (67.8) (1,431)
(641) n.m. n.m. 775
5,736 (17.2) (13.1) 6,926
(1,141) (26.0) (22.3) (1,541)
4,595 (14.7) (10.5) 5,385
(385) 5.2 3.7 (366)
4,210 (16.1) (11.6) 5,020
(1,050) n.m. n.m. (395)
5,260 (2.8) 2.0 5,414
1.12 (17.0) 1.35
1.40 (3.9) 1.46
(1) 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 with no effect on net attributable profit.
In the fourth quarter the extraordinary allocation to provisions and the goodwill impairment, both in the US. In 2008, capital gains from Bradesco in the first quarter, provisions
for non-recurrent early retirements in the second and fourth quarters and provision for the loss originated by the Madoff fraud in the fourth quarter.
4Q09
7
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