BBVA improves business prospects in Spain and Mexico for 2022

Credit repunta in Spain

During his speech, the CEO stressed that, in the first quarter, the ‘stock‘ from loans grew a 10.6% in the Group as a whole. In spain, turnover grew by 27% compared to the first quarter of 2021; a growth that occurred in all segments, except for public institutions.

Onur Genç has also highlighted the growth of the ‘stock‘ from loans in spain in the first quarter of 3,4%.This is something we haven’t seen in a long time.”, he pointed out. The greatest increase in activity occurred in the most profitable segments, such as the portfolio of companieswhich grew by 13.9% year-on-year, and consumption y cards from credit, with an increase of 9.6%. “In Spain, activity is recovering very well and we are gaining market share”, he underlined.

Refering to asset qualitythe financial director of BBVA, Raphael Salinashas indicated that today, the macroeconomic projections as a result of the crisis in Ukraine “nor they give us indications of deterioration of delinquency”. On the contrary, “we are seeing that the good rate of growth in activity is causing the impaired portfolio to weigh less in the set of all portfolios, and that the NPL ratio at the Group level clearly improves”.

As to whether the entity has made provisions to face the possible future effects derived from the crisis in Ukraine, the CEO has indicated that BBVA has reserved around An additional 200 million euros for the Group for this reason, of which 97 million euros have been provisioned in Spain.

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