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 January, 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
|
01.29.2021
BBVA earns 1.32 billion in 4Q20, its best quarterly result in two years
BBVA earned 1.32 billion between October and December, its highest quarterly result over the past two years. In 2020 BBVA helped three million clients affected by the pandemic, with about 63 billion in government-backed credit lines and loan deferrals. The sale of the U.S. subsidiary will provide some 8.5 billion in capital to grow in a profitable way across its footprint and increase shareholder distributions. BBVA will make a gross cash payment of 0.059 per share against 2020 earnings, and expects to resume its shareholder distribution policy in 2021 with a payout of 35-40 percent of profits. Additionally, the bank is targeting a buyback of about 10 percent of the Groups shares, after the close of the sale of the U.S. franchise. All this subject to market conditions and the required approvals.
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Change 2020/2019 |
||||||||||||
BBVA Group (m) | 2020 | % | % constant | |||||||||
Net Interest Income |
16,801 | -7.3 | 3.6 | |||||||||
Net Fees and Commissions |
4,616 | -8.3 | -0.4 | |||||||||
Net Trading Income |
1,692 | 22.3 | 37.6 | |||||||||
Other Income & Expenses |
-135 | n.s. | n.s. | |||||||||
Gross Income |
22,974 | -6.1 | 4.5 | |||||||||
Operating Expenses |
-10,755 | -9.6 | -2.6 | |||||||||
Operating Income |
12,219 | -2.7 | 11.7 | |||||||||
Impairment on Financial Assets |
-5,908 | 45.1 | 67.3 | |||||||||
Provisions and Other Gains and Losses |
-1,085 | 40.6 | 51.4 | |||||||||
Income Before Tax |
5,225 | -32.3 | -21.9 | |||||||||
Income Tax |
-1,385 | -32.5 | -22.4 | |||||||||
Non-controlling Interest |
-756 | -9.3 | 13.0 | |||||||||
Net Attributable Profit (ex·BBVA USA goodwill impairment and Corporate Operations) |
3,084 | -36.1 | -27.2 | |||||||||
Corporate Operations |
304 | n.s. | n.s. | |||||||||
BBVA USA goodwill impairment |
-2,084 | 58.1 | 58.1 | |||||||||
Net Attributable Profit (reported) |
1,305 | -62.9 | -55.3 | |||||||||
Change 4Q20/4Q19 |
||||||||||||
BBVA Group (m) | 4Q20 | % | % constant | |||||||||
Net Interest Income |
4,038 | -14.2 | 1.4 | |||||||||
Net Fees and Commissions |
1,173 | -9.1 | 2.2 | |||||||||
Net Trading Income |
213 | -56.6 | -46.0 | |||||||||
Other Income & Expenses |
-157 | n.s. | n.s. | |||||||||
Gross Income |
5,266 | -17.7 | -3.2 | |||||||||
Operating Expenses |
-2,674 | -13.3 | -2.7 | |||||||||
Operating Income |
2,593 | -21.8 | -3.7 | |||||||||
Impairment on Financial Assets |
-834 | -28.7 | -11.8 | |||||||||
Provisions and Other Gains and Losses |
-227 | -38.6 | -30.3 | |||||||||
Income Before Tax |
1,532 | -13.9 | 7.4 | |||||||||
Income Tax |
-407 | -5.4 | 17.8 | |||||||||
Non-controlling Interest |
-110 | -40.7 | -1.1 | |||||||||
Net Attributable Profit (ex-BBVA USA goodwill impairment and Corporate Operations) |
1,015 | -12.7 | 4.9 | |||||||||
Corporate Operations |
304 | n.s. | n.s. | |||||||||
Net Attributable Profit (reported) |
1,320 | n.s. | n.s. |
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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, it has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkeys Garanti BBVA. 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: January 29, 2021 | ||
By: /s/ María Ángeles Peláez Morón | ||
Name: María Ángeles Peláez Morón
| ||
Title: Authorized representative |