In addition, the group has recorded the best recurring result, that is, the profit in a specific period, without taking into account exceptional income/expenses, in its history.
Euskaraz irakurri: BBVAk 1,651 milioiko irabaziak izan ditu martxora art, % 36.4 gehiago
The BBVA Group obtained an attributed result of 1,651 million euros during the first quarter this year, which represents an increase of 36.4% at current exchange rates and 41% in constant euros, thanks to the growth in income, driven by the dynamism of activity (+10.6%) and the improvement of risk indicators.
Between January and March of this year, the group recorded the highest net margin and the highest recurring profit in its history (profit in a specific period, without taking into account extraordinary income/expenses), with an increase of 68.4% compared to the recurring result of the first quarter of 2021, as reported by the entity.
Excluding the non-recurring impacts in the first quarter of 2021, that is, 177 million euros for the result of discontinued operations and corresponding to BBVA USA and the rest of the companies sold to PNC on June 1, 2021, the attributed result of the group increased by 59.8% year-on-year.
“In the first quarter of this year, we have obtained magnificent results, with good dynamics in all the business units, mainly thanks to the growth in income, driven by the dynamism of the activity, and also to the improvement in the indicators of risk. The notable improvement in profitability and efficiency stands out, which place us at the head of our European competitors. These results reaffirm our confidence in achieving the objectives we have set for 2024”, said the CEO of BBVA, Onur Genc.
Source: Eitb
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
