Final Results
Banco Bilbao Vizcaya Argentaria SA
20 January 2006
BBVA GROUP
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 1.469 1.579 1.507 1.605 1.561 1.822 1.826
NET INCOME EQUITY METHOD 22 22 26 27 23 28 28
NET FEE INCOME 833 848 861 872 899 954 1.022
INCOME FROM INSURANCE ACTIVITIES 98 95 102 95 96 123 130
CORE REVENUES 2.422 2.544 2.495 2.599 2.579 2.926 3.006
NET TRADING INCOME 240 302 228 289 299 341 255
ORDINARY REVENUES 2.662 2.847 2.723 2.888 2.878 3.267 3.261
NET REVENUES FROM NON-FINANCIAL 18 37 21 51 28 40 43
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -1.260 -1.248 -1.240 -1.350 -1.317 -1.404 -1.461
DEPRECIATION AND AMORTIZATION -113 -111 -114 -110 -102 -105 -117
OTHER OPERATING INCOME & EXPENSES -32 -27 -24 -26 -31 -9 -27
OPERATING PROFIT 1.275 1.497 1.366 1.453 1.457 1.789 1.699
IMPAIRMENT LOSSES ON FINANCIAL -230 -183 -183 -362 -123 -202 -234
ASSETS
LOAN LOSS PROVISIONS -225 -187 -183 -189 -118 -187 -227
OTHER IMPAIRMENT LOSSES -6 4 0 -173 -5 -15 -7
OTHER PROVISIONS -289 -226 -199 -137 -131 -123 -75
OTHER GAIN/LOSSES 284 18 20 32 -1 57 15
SALE OF FINANCIAL STAKES 240 22 21 25 4 13 3
OTHER 44 -4 0 6 -4 45 13
PRE-TAX PROFIT 1.040 1.107 1.004 986 1.203 1.522 1.406
CORPORATE INCOME TAX -310 -237 -277 -204 -337 -451 -418
NET INCOME 730 870 726 782 866 1.070 988
MINORITY INTERESTS -39 -51 -52 -44 -50 -72 -73
NET ATRIBUTABLE PROFIT 691 819 674 739 815 998 914
RETAIL BANKING IN SPAIN AND PORTUGAL
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 730 763 746 776 768 800 799
NET INCOME EQUITY METHOD 1 1 1 -1 0 0 1
NET FEE INCOME 354 364 369 390 374 394 406
INCOME FROM INSURANCE ACTIVITIES 68 64 63 63 75 75 79
CORE REVENUES 1.153 1.190 1.179 1.228 1.218 1.269 1.284
NET TRADING INCOME 12 12 16 15 16 34 34
ORDINARY REVENUES 1.165 1.203 1.194 1.243 1.234 1.303 1.318
NET REVENUES FROM NON-FINANCIAL 7 5 7 8 6 8 3
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -545 -545 -543 -547 -552 -564 -569
DEPRECIATION AND AMORTIZATION -29 -26 -27 -25 -24 -24 -29
OTHER OPERATING INCOME & EXPENSES 9 12 7 9 10 14 17
OPERATING PROFIT 608 648 639 688 673 738 741
IMPAIRMENT LOSSES ON FINANCIAL -69 -111 -102 -127 -53 -159 -104
ASSETS
LOAN LOSS PROVISIONS -69 -111 -102 -127 -55 -160 -105
OTHER IMPAIRMENT LOSSES 0 0 0 0 2 1 1
OTHER PROVISIONS -3 -1 2 -3 2 -1 -4
OTHER GAIN/LOSSES 7 0 1 3 -2 16 2
SALE OF FINANCIAL STAKES 0 0 1 1 0 8 2
OTHER 7 0 -1 2 -2 8 0
PRE-TAX PROFIT 544 536 540 561 620 594 636
CORPORATE INCOME TAX -186 -187 -181 -197 -215 -204 -223
NET INCOME 358 349 360 364 405 391 412
MINORITY INTERESTS -1 -1 -1 -1 -1 -1 -1
NET ATRIBUTABLE PROFIT 357 348 358 363 403 390 411
FINANCIAL SERVICES
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 717 746 732 762 752 787 787
NET INCOME EQUITY METHOD 0 0 0 0 0 0 0
NET FEE INCOME 323 337 342 356 348 357 379
INCOME FROM INSURANCE ACTIVITIES 0 0 0 0 0 0 0
CORE REVENUES 1.040 1.082 1.074 1.117 1.100 1.144 1.167
NET TRADING INCOME 11 11 14 14 16 29 30
ORDINARY REVENUES 1.051 1.093 1.089 1.132 1.116 1.173 1.196
NET REVENUES FROM NON-FINANCIAL 7 5 7 8 6 8 4
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -505 -505 -502 -502 -510 -521 -526
DEPRECIATION AND AMORTIZATION -26 -23 -24 -22 -20 -20 -25
OTHER OPERATING INCOME & EXPENSES 9 12 8 9 10 15 18
OPERATING PROFIT 537 583 577 624 601 654 667
IMPAIRMENT LOSSES ON FINANCIAL -64 -106 -97 -121 -53 -158 -101
ASSETS
LOAN LOSS PROVISIONS -64 -106 -97 -121 -53 -158 -101
OTHER IMPAIRMENT LOSSES 0 0 0 0 0 0 1
OTHER PROVISIONS -1 0 0 -2 2 0 -1
OTHER GAIN/LOSSES 8 0 3 2 -2 17 4
SALE OF FINANCIAL STAKES 0 0 1 0 0 8 2
OTHER 8 0 1 2 -2 9 2
PRE-TAX PROFIT 480 477 483 503 549 514 570
CORPORATE INCOME TAX -165 -167 -167 -176 -191 -177 -198
NET INCOME 315 310 315 327 358 337 372
MINORITY INTERESTS -1 0 -1 -1 -1 -1 -1
NET ATRIBUTABLE PROFIT 314 310 315 326 357 336 371
ASSET MANAGEMENT AND PRIVATE BANKING
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 7 9 8 9 9 9 8
NET INCOME EQUITY METHOD 0 1 0 0 0 0 0
NET FEE INCOME 55 53 54 57 55 60 58
INCOME FROM INSURANCE ACTIVITIES 0 0 0 0 0 0 0
CORE REVENUES 62 63 62 66 64 70 66
NET TRADING INCOME 1 0 0 0 0 1 1
ORDINARY REVENUES 63 62 62 66 65 71 68
NET REVENUES FROM NON-FINANCIAL 0 0 0 0 0 0 0
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -19 -17 -19 -20 -19 -19 -19
DEPRECIATION AND AMORTIZATION -1 -1 -1 -1 -1 -1 -1
OTHER OPERATING INCOME & EXPENSES 0 0 0 0 0 0 0
OPERATING PROFIT 43 44 42 44 44 51 47
IMPAIRMENT LOSSES ON FINANCIAL 0 -2 0 1 -1 -2 0
ASSETS
LOAN LOSS PROVISIONS 0 -2 0 1 -1 -2 0
OTHER IMPAIRMENT LOSSES 0 0 0 0 0 0 0
OTHER PROVISIONS 0 0 0 0 0 0 0
OTHER GAIN/LOSSES 0 0 -1 1 0 0 -1
SALE OF FINANCIAL STAKES 0 0 0 1 0 0 0
OTHER 0 0 -1 0 0 0 -1
PRE-TAX PROFIT 43 42 41 46 43 48 47
CORPORATE INCOME TAX -15 -14 -14 -16 -15 -17 -16
NET INCOME 28 27 27 30 28 32 30
MINORITY INTERESTS 0 0 0 0 0 0 0
NET ATRIBUTABLE PROFIT 28 27 27 30 28 32 30
WHOLESALE AND INVESTMENT BANKING
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 115 103 91 114 88 124 103
NET INCOME EQUITY METHOD 13 14 13 63 12 11 11
NET FEE INCOME 48 48 44 49 54 56 65
INCOME FROM INSURANCE ACTIVITIES 0 0 0 0 0 0 0
CORE REVENUES 176 166 149 226 154 192 179
NET TRADING INCOME 50 88 24 35 91 88 110
ORDINARY REVENUES 226 254 172 261 244 279 288
NET REVENUES FROM NON-FINANCIAL 10 31 13 28 18 30 35
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -78 -80 -81 -85 -85 -89 -88
DEPRECIATION AND AMORTIZATION -2 -2 -2 -2 -2 -2 -2
OTHER OPERATING INCOME & EXPENSES -1 -1 -2 1 -1 19 0
OPERATING PROFIT 156 202 101 204 176 237 234
IMPAIRMENT LOSSES ON FINANCIAL -36 -55 -74 -68 -20 -18 -13
ASSETS
LOAN LOSS PROVISIONS -36 -55 -74 -68 -20 -18 -13
OTHER IMPAIRMENT LOSSES 0 0 0 0 0 0 0
OTHER PROVISIONS 6 -1 1 1 0 4 3
OTHER GAIN/LOSSES -4 28 21 12 6 7 0
SALE OF FINANCIAL STAKES 0 20 18 3 3 4 0
OTHER -4 8 3 9 2 3 1
PRE-TAX PROFIT 121 174 49 148 161 230 225
CORPORATE INCOME TAX -34 -43 14 -21 -48 -62 -57
NET INCOME 87 131 63 127 113 168 168
MINORITY INTERESTS 0 -1 0 -3 -1 -1 -1
NET ATRIBUTABLE PROFIT 87 130 63 124 112 167 167
WHOLESALE BANKING
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 122 103 103 105 111 121 109
NET INCOME EQUITY METHOD 0 0 0 0 0 0 0
NET FEE INCOME 38 42 40 36 41 44 51
INCOME FROM INSURANCE ACTIVITIES 0 0 0 0 0 0 0
CORE REVENUES 160 145 144 140 153 165 161
NET TRADING INCOME 9 9 10 3 14 19 9
ORDINARY REVENUES 168 155 154 144 166 184 170
NET REVENUES FROM NON-FINANCIAL 0 0 0 0 0 0 0
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -43 -41 -41 -44 -43 -45 -44
DEPRECIATION AND AMORTIZATION -1 -1 -1 -1 -1 -1 -1
OTHER OPERATING INCOME & EXPENSES 0 -1 -1 0 0 19 0
OPERATING PROFIT 123 112 111 98 122 156 124
IMPAIRMENT LOSSES ON FINANCIAL -32 -48 -68 -65 -14 -22 -13
ASSETS
LOAN LOSS PROVISIONS -32 -48 -68 -65 -14 -22 -13
OTHER IMPAIRMENT LOSSES 0 0 0 0 0 0 0
OTHER PROVISIONS 6 -1 1 0 0 3 1
OTHER GAIN/LOSSES 1 1 2 7 0 1 0
SALE OF FINANCIAL STAKES 0 0 0 1 0 0 0
OTHER 1 1 2 6 0 1 0
PRE-TAX PROFIT 97 64 45 41 108 138 112
CORPORATE INCOME TAX -33 -20 -12 -16 -36 -39 -39
NET INCOME 65 44 34 25 72 99 74
MINORITY INTERESTS 1 -1 0 0 0 0 0
NET ATRIBUTABLE PROFIT 65 44 34 25 72 99 74
MARKETS
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME -1 2 -8 14 -17 7 -21
NET INCOME EQUITY METHOD 0 0 0 0 0 0 0
NET FEE INCOME 11 8 4 14 15 13 15
INCOME FROM INSURANCE ACTIVITIES 0 0 0 0 0 0 0
CORE REVENUES 11 10 -4 28 -2 20 -7
NET TRADING INCOME 37 86 -2 32 80 77 103
ORDINARY REVENUES 47 96 -6 60 78 96 96
NET REVENUES FROM NON-FINANCIAL 0 0 0 0 0 0 0
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -29 -33 -33 -36 -35 -35 -37
DEPRECIATION AND AMORTIZATION -1 0 0 0 0 0 0
OTHER OPERATING INCOME & EXPENSES 0 0 0 0 0 0 0
OPERATING PROFIT 18 62 -39 23 43 61 59
IMPAIRMENT LOSSES ON FINANCIAL -4 -6 -4 -3 -6 6 0
ASSETS
LOAN LOSS PROVISIONS -4 -6 -4 -3 -6 6 0
OTHER IMPAIRMENT LOSSES 0 0 0 0 0 0 0
OTHER PROVISIONS 0 0 0 0 0 0 0
OTHER GAIN/LOSSES -6 3 0 0 0 0 1
SALE OF FINANCIAL STAKES 0 0 0 0 0 0 0
OTHER -6 3 0 0 0 0 1
PRE-TAX PROFIT 9 59 -44 20 37 67 60
CORPORATE INCOME TAX 1 -16 31 -3 -11 -20 -10
NET INCOME 9 42 -12 17 26 47 50
MINORITY INTERESTS 0 0 0 -2 -1 -1 -1
NET ATRIBUTABLE PROFIT 9 42 -12 15 25 47 49
AMERICA
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 652 717 740 756 799 929 1.005
NET INCOME EQUITY METHOD 2 -5 1 2 -1 0 0
NET FEE INCOME 424 436 443 432 459 492 535
INCOME FROM INSURANCE ACTIVITIES 38 43 46 44 46 54 69
CORE REVENUES 1.116 1.191 1.229 1.234 1.304 1.474 1.609
NET TRADING INCOME 70 30 41 107 -11 110 147
ORDINARY REVENUES 1.187 1.221 1.270 1.341 1.292 1.584 1.756
NET REVENUES FROM NON-FINANCIAL 1 1 1 1 2 3 3
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -545 -547 -553 -577 -584 -667 -712
DEPRECIATION AND AMORTIZATION -55 -53 -61 -57 -44 -56 -58
OTHER OPERATING INCOME & EXPENSES -36 -35 -36 -37 -37 -40 -42
OPERATING PROFIT 551 587 621 672 629 824 947
IMPAIRMENT LOSSES ON FINANCIAL -96 -78 -52 -85 -52 -70 -131
ASSETS
LOAN LOSS PROVISIONS -96 -78 -52 -85 -46 -58 -122
OTHER IMPAIRMENT LOSSES 0 0 0 0 -6 -13 -9
OTHER PROVISIONS -41 -41 -50 -55 -42 -43 -5
OTHER GAIN/LOSSES 20 -17 -11 10 -9 43 -12
SALE OF FINANCIAL STAKES 0 1 0 15 0 0 1
OTHER 20 -17 -11 -5 -9 42 -14
PRE-TAX PROFIT 434 452 509 541 527 753 799
CORPORATE INCOME TAX -146 -113 -137 -137 -141 -203 -226
NET INCOME 288 339 371 404 386 551 573
MINORITY INTERESTS -74 -47 -44 -43 -52 -62 -60
NET ATRIBUTABLE PROFIT 213 292 328 362 334 489 512
BANCOMER BANKING GROUP
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 387 432 460 484 532 589 652
NET INCOME EQUITY METHOD 1 -4 0 1 0 0 0
NET FEE INCOME 194 192 200 190 211 225 266
INCOME FROM INSURANCE ACTIVITIES 0 0 0 0 0 0 0
CORE REVENUES 582 620 660 675 742 814 918
NET TRADING INCOME 34 5 17 70 -43 71 85
ORDINARY REVENUES 616 625 677 745 700 886 1.003
NET REVENUES FROM NON-FINANCIAL 0 0 0 0 -1 -1 -1
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -255 -258 -270 -279 -292 -328 -340
DEPRECIATION AND AMORTIZATION -30 -27 -30 -31 -23 -33 -27
OTHER OPERATING INCOME & EXPENSES -30 -30 -21 -25 -25 -30 -32
OPERATING PROFIT 302 310 356 410 358 492 604
IMPAIRMENT LOSSES ON FINANCIAL -80 -61 -44 -23 -37 -45 -107
ASSETS
LOAN LOSS PROVISIONS -80 -61 -44 -23 -34 -40 -96
OTHER IMPAIRMENT LOSSES 0 0 0 0 -4 -4 -11
OTHER PROVISIONS -16 -11 -21 -30 -29 -31 16
OTHER GAIN/LOSSES -16 -2 -5 4 -6 6 -8
SALE OF FINANCIAL STAKES 0 0 0 1 0 0 0
OTHER -16 -2 -5 3 -6 6 -8
PRE-TAX PROFIT 190 237 286 361 286 423 504
CORPORATE INCOME TAX -48 -64 -87 -112 -91 -128 -157
NET INCOME 141 173 199 249 195 295 347
MINORITY INTERESTS -31 -1 0 -1 0 0 0
NET ATRIBUTABLE PROFIT 111 172 199 248 195 294 347
REST OF BANKS
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 249 267 264 254 254 318 334
NET INCOME EQUITY METHOD 1 -1 1 1 0 0 0
NET FEE INCOME 89 91 98 103 97 117 123
INCOME FROM INSURANCE ACTIVITIES 0 0 0 0 0 0 0
CORE REVENUES 338 358 362 357 351 435 457
NET TRADING INCOME 22 20 11 22 21 28 42
ORDINARY REVENUES 361 378 374 380 372 464 499
NET REVENUES FROM NON-FINANCIAL 0 0 0 0 0 0 0
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -181 -181 -181 -197 -192 -229 -254
DEPRECIATION AND AMORTIZATION -18 -18 -19 -17 -13 -15 -20
OTHER OPERATING INCOME & EXPENSES -9 -7 -10 -8 -8 -9 -11
OPERATING PROFIT 153 171 163 159 159 210 214
IMPAIRMENT LOSSES ON FINANCIAL -16 -16 -6 -61 -20 -25 -23
ASSETS
LOAN LOSS PROVISIONS -16 -16 -6 -61 -17 -17 -25
OTHER IMPAIRMENT LOSSES 0 0 0 0 -2 -8 2
OTHER PROVISIONS -22 -29 -30 -20 -10 -13 -20
OTHER GAIN/LOSSES 45 -5 -6 -7 -2 29 -4
SALE OF FINANCIAL STAKES 0 0 0 0 0 0 0
OTHER 45 -5 -6 -7 -2 29 -4
PRE-TAX PROFIT 160 122 121 72 127 201 166
CORPORATE INCOME TAX -74 -28 -26 -6 -23 -49 -39
NET INCOME 86 93 95 66 104 152 127
MINORITY INTERESTS -28 -31 -29 -25 -32 -42 -39
NET ATRIBUTABLE PROFIT 58 62 66 41 73 111 88
PENSION & INSURANCE COMPANIES IN AMERICA
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME 4 5 5 5 2 5 4
NET INCOME EQUITY METHOD 0 0 0 0 0 -1 0
NET FEE INCOME 93 99 96 87 97 104 110
INCOME FROM INSURANCE ACTIVITIES 49 54 57 56 55 63 76
CORE REVENUES 146 157 158 148 154 171 189
NET TRADING INCOME 11 1 10 11 8 9 17
ORDINARY REVENUES 156 158 168 159 161 180 207
NET REVENUES FROM NON-FINANCIAL 2 2 2 2 3 4 4
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -77 -77 -81 -77 -74 -84 -99
DEPRECIATION AND AMORTIZATION -4 -5 -5 -5 -3 -3 -6
OTHER OPERATING INCOME & EXPENSES 3 3 2 3 1 5 6
OPERATING PROFIT 80 81 86 82 89 101 112
IMPAIRMENT LOSSES ON FINANCIAL 0 0 0 0 0 0 0
ASSETS
LOAN LOSS PROVISIONS 0 0 0 0 0 0 0
OTHER IMPAIRMENT LOSSES 0 0 0 0 0 0 0
OTHER PROVISIONS 0 0 0 0 -2 1 0
OTHER GAIN/LOSSES -9 -9 0 13 0 8 0
SALE OF FINANCIAL STAKES 0 1 0 14 0 0 1
OTHER -9 -9 0 -1 0 8 -2
PRE-TAX PROFIT 71 73 85 95 86 111 111
CORPORATE INCOME TAX -26 -23 -27 -22 -29 -28 -33
NET INCOME 44 50 59 73 57 83 78
MINORITY INTERESTS -7 -4 -7 -7 -9 -10 -11
NET ATRIBUTABLE PROFIT 38 46 52 65 48 73 67
CORPORATE ACTIVITIES
Year 2004 Year 2005
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
NET INTEREST INCOME -28 -3 -71 -40 -94 -32 -80
NET INCOME EQUITY METHOD 6 12 11 -38 12 17 16
NET FEE INCOME 6 0 5 0 12 12 16
INCOME FROM INSURANCE ACTIVITIES -8 -11 -6 -12 -25 -5 -18
CORE REVENUES -24 -3 -61 -90 -96 -8 -65
NET TRADING INCOME 107 173 148 132 204 110 -36
ORDINARY REVENUES 84 170 86 42 108 101 -101
NET REVENUES FROM NON-FINANCIAL 0 0 0 15 2 -1 1
ACTIVITIES
GENERAL ADMINISTRATIVE EXPENSES -93 -76 -64 -142 -96 -85 -92
DEPRECIATION AND AMORTIZATION -27 -30 -25 -25 -33 -23 -28
OTHER OPERATING INCOME & EXPENSES -4 -4 7 0 -2 -2 -2
OPERATING PROFIT -40 60 5 -110 -21 -10 -223
IMPAIRMENT LOSSES ON FINANCIAL -29 61 44 -81 2 46 14
ASSETS
LOAN LOSS PROVISIONS -24 57 44 91 3 49 13
OTHER IMPAIRMENT LOSSES -6 4 0 -173 -1 -3 1
OTHER PROVISIONS -251 -183 -152 -79 -91 -83 -69
OTHER GAIN/LOSSES 261 7 9 6 5 -8 25
SALE OF FINANCIAL STAKES 240 1 1 6 0 0 0
OTHER 21 6 8 0 4 -8 25
PRE-TAX PROFIT -59 -55 -94 -264 -106 -56 -253
CORPORATE INCOME TAX 56 106 27 151 67 17 88
NET INCOME -3 52 -68 -113 -39 -39 -165
MINORITY INTERESTS 37 -3 -7 3 5 -9 -11
NET ATRIBUTABLE PROFIT 34 49 -75 -110 -34 -48 -176
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 5 minutes ago Ithaca Energy
- 42 minutes ago MING YANG SMART ENERGY GROUP LIMITED
- 2 hours ago Trekor Metals Limited
- 2 hours ago ECR Minerals
- 2 hours ago Zotefoams