BBVA Achieves Record Operating Income of €3.53 Billion in Q1 2022

BBVA Group, a leading Spanish financial services provider, has reported its financial results for the first quarter from January and March 2022. The bank posted a net attributable profit of €1.65 billion for the period.

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Between January and March 2022, the group's net interest income reached €4.16 billion, up 26.3 percent from the same period a year earlier. Net fees and commissions also improved during the period, with a 14.1 percent increase to reach €1.24 billion. Recurring revenues stood at €5.4 billion, 23.3 percent more than in 1Q21.

Operating expenses reached €2.42 billion, up 8.5 percent from the same period a year earlier. operating income reached a new record of €3.53 billion, up 31.9 percent from the same period a year earlier. 

The BBVA Group posted a net attributable profit of €1.65 billion in 1Q22, up 41 percent compared to the same period a year earlier. This is the highest recurring profit ever, with an increase of 68.4 percent vs. the recurring result in 1Q21.

"In the first quarter of the year, we had outstanding results, with good performance of all business units, mainly driven by the growth of our revenues due to a strong balance sheet growth and improved risk indicators. It is worth underscoring the notable improvement in profitability and efficiency, which positions BBVA in the lead among European competitors. These results reinforce our confidence in our ability to attain the goals we have set for ourselves for 2024,"BBVA CEO Onur Genç said.