UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July, 2021
Commission file number: 1-10110
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
(Exact name of Registrant as specified in its charter)
BANK BILBAO VIZCAYA ARGENTARIA, S.A.
(Translation of Registrants name into English)
Calle Azul 4,
28050 Madrid
Spain
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F X | Form 40-F |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes | No X |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes | No X |
Press Release
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07.30.2021 |
BBVA posts underlying profit of 2.33 billion in first half of 2021
The BBVA Groups attributable profit reached 2.33 billion between January and June 2021, excluding non-recurring impacts from the results generated by the sale of BBVA USA and the net costs of the restructuring plan in Spain. This figure is 146 percent higher than the one from 1H20 (+183 percent at constant exchange rates). Including these non-recurring impacts, the attributable profit stood at 1.91 billion, a figure that compares very favorably with the 1.16 billion loss recorded in the same period of the previous year amidst the pandemic breakout. These earnings were made possible thanks to revenue strength, particularly those linked to the banks core activity (net interest income and fees and commissions), as well as lower impairments vs. 1H20. Following the sale of the U.S. subsidiary, BBVA maintains a solid capital position, with a fully-loaded CET1 ratio of 14.17 percent. The Group has also set the date for its Investor Day, on November 18, 2021, an online meeting where it will share its strategy and goals with the investment community.
07.30.2021 |
07.30.2021 |
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07.30.2021 |
07.30.2021 |
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BBVA Corporate Communications
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Tel. +34 91 374 40 10 comunicacion.corporativa@bbva.com | ||
For more financial information about BBVA visit: https://shareholdersandinvestors.bbva.com/ | ||
For more news about BBVA visit: https://www.bbva.com | ||
07.30.2021 |
Change 2Q21/2Q20 |
Change 2Q21/1Q21 |
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BBVA Group (m) |
2Q21 | % constant | % | % constant | ||||||||||||
Net Interest Income |
3,504 | 4.1 | -0.9 | 3.9 | ||||||||||||
Net Fees and Commissions |
1,182 | 30.8 | 26.5 | 6.3 | ||||||||||||
Net Trading Income |
503 | 14.3 | 7.0 | -10.4 | ||||||||||||
Other Income & Expenses |
-85 | 20.1 | 6.5 | n.s. | ||||||||||||
Gross Income |
5,104 | 10.0 | 5.0 | 1.4 | ||||||||||||
Operating Expenses |
-2,294 | 8.7 | 5.1 | 1.3 | ||||||||||||
Operating Income |
2,810 | 11.0 | 4.9 | 1.4 | ||||||||||||
Impairment on Financial Assets |
-656 | -52.3 | -53.4 | -27.5 | ||||||||||||
Provisions and Other Gains and Losses |
-30 | -90.9 | -90.7 | -83.4 | ||||||||||||
Income Before Tax |
2,124 | 149.2 | 123.5 | 25.1 | ||||||||||||
Income Tax |
-591 | 138.8 | 116.8 | 23.9 | ||||||||||||
Non-controlling Interest |
-239 | 103.6 | 47.8 | 13.9 | ||||||||||||
Net Attributable Profit (ex non-recurring impacts) |
1,294 | 166.1 | 150.8 | 28.0 | ||||||||||||
Discontinued operation, and net cost related to the restructuring process1 |
-593 | n.a. | n.a. | n.a. | ||||||||||||
Net Attributable Profit (reported) |
701 | 18.8 | 10.3 | -40.4 |
(1) Includes the results from US business sold to PNC (103 m in 2Q 2021), and the net cost related to the restructuring process (-696 m in 2Q 2021).
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Change 6M21/6M20 |
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BBVA Group (m) |
6M21 | % constant | % | |||||||||||||
Net Interest Income |
6,955 | 0.9 | -8.0 | |||||||||||||
Net Fees and Commissions |
2,315 | 19.7 | 12.5 | |||||||||||||
Net Trading Income |
1,084 | 14.8 | 6.9 | |||||||||||||
Other Income & Expenses |
-95 | n.s. | n.s. | |||||||||||||
Gross Income |
10,259 | 4.9 | -3.6 | |||||||||||||
Operating Expenses |
-4,598 | 5.1 | -1.3 | |||||||||||||
Operating Income |
5,661 | 4.7 | -5.3 | |||||||||||||
Impairment on Financial Assets |
-1,580 | -52.3 | -55.8 | |||||||||||||
Provisions and Other Gains and Losses |
-198 | -68.4 | -69.5 | |||||||||||||
Income Before Tax |
3,883 | 164.1 | 120.9 | |||||||||||||
Income Tax |
-1,080 | 167.7 | 126.6 | |||||||||||||
Non-controlling Interest |
-476 | 94.8 | 42.7 | |||||||||||||
Net Attributable Profit (ex non-recurring impacts) |
2,327 | 183.0 | 145.6 | |||||||||||||
Discontinued & corporate operations, and net cost related to the restructuring process1 |
-416 | -80.2 | -80.2 | |||||||||||||
Net Attributable Profit (reported) |
1,911 | n.s. | n.s. |
(1) Includes the results from US business sold to PNC and BBVA USA goodwill impairment in 1Q20 (280 m in 6M 2021 and -2,104 m in 6M 2020), and the net cost related to the restructuring process (-696 m in 6M 2021).
07.30.2021 |
About BBVA
BBVA is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico and it has leading franchises in South America. It is also the leading shareholder in Turkeys Garanti BBVA and has an important investment, transactional and capital markets banking business in the U.S. Its purpose is to bring the age of opportunities to everyone, based on our customers real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Banco Bilbao Vizcaya Argentaria, S.A. | ||
Date: July 30, 2021 | ||
By: /s/ María Ángeles Peláez Morón | ||
Name: María Ángeles Peláez Morón | ||
Title: Authorized representative |