BBVA FY Profit Rises

Banco Bilbao

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(RTTNews) - Spanish financial services company Banco Bilbao Vizcaya Argentaria, S.A. or BBVA Group (BBVA) reported Thursday that its net attributable profit for the full year 2024 rose more than 25 percent to 10.05 billion euros.

Earnings per share for the year grew 30 percent to 1.68 euros. On an adjusted basis, earnings per share grew nearly 28 percent over last year.

Profit before tax increased 24 percent to 15.40 billion euros.

Gross income rose 20 percent to 35.48 billion euros, and net interest income grew 9.4 percent to 25.27 billion euros, for the full year.

The Group attributed the results to the performance of recurring revenues of the banking business, that is, net interest income and net fees and commissions, which together grew by 13.2 percent.

Loans and advances to customers during the year witnessed a growth of 9.2 percent, mainly driven by the evolution of corporate loans as well as positive performance of individual loans.

The provisions for impairment on financial assets increased 32.4 percent at constant exchange rates, owing to a high rate of growth in lending, both in loans to companies and in retail products.

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