2023-07-28 10:48:28
BBVA obtained net attributable profit of 3,878 million euros in the first half of 2023, 31.1% more that a year earlier, thanks to the higher income obtained, especially in Spain and Mexico, the entity informed the CNMV this Friday.
In the second quarter alone, the profit exceeded 2 billion boosted by the income margin, in a context of greater commercial activity, which will allow the bank to carry out a new share buyback for an amount of 1,000 million euros, once it obtains the necessary authorizations.
Loans and advances granted to customers they increased by 5.4% in the period and stood at 380,949 million euros, with a default rate of 3.4%, somewhat better than the previous 3.7%, and 80% coverage to protect this portfolio of possible insolvencies, compared to 78% previously.
Regarding solvency, the ratio CET1 “fully-loaded” of the group, which includes all the capital requirements contemplated in the regulations, stood at 12.99%, slightly above the 12.56% of a year ago.
The indicators that measure profitability, ROTE and ROEstood at 16.9% and 16.2%, respectively, higher than in June 2022.
The subsidiary of Mexico continued to lead in terms of contribution to the global accounts, with 2,614 million euros and an interannual increase of 30.1%.
In spainthe entity won 1,231 million euros, 53.6% above the result achieved in the same period of the previous year, thanks to the dynamism of the interest income, which boosted the growth of the gross margin.
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As for the main margins of the income statement, interest rose by 33.6%, to 11,410 million, thanks to the improvement in activity and customer spreads.
He gross margin It stood at 14,148 million after rising 24%, driven largely by commissions, which were close to 3,000 million after increasing almost 13%, especially due to the good evolution registered in Mexico, South America and Turkey.
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