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Francisco González Rodríguez Updated: 01 Feb 2017

Francisco González: “BBVA aims to be one of the digital leaders in the new league of competitors that is now forming”

Following the publication of the Group’s 2016 annual results, BBVA Executive Chairman Francisco González said today that the most important thing is that BBVA has made tremendous progress in its transformation journey, which consists of achieving six Strategic Priorities.

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Carlos Torres Vila

Results: BBVA earns €3.48 billion in 2016 (+31.5%)

- Income: Net interest income increased 3.9% in 2016 (+14.9% stripping out the impact of currencies). The fourth quarter was the year’s highest (€4.39 billion). Cost-containment efforts improved the efficiency ratio (51.9% in 2016)

- Risks: BBVA Group’s NPL ratio improved to 4.9% in December (from 5.4% at the end of 2015), with coverage ratio of 70%

- Capital: BBVA reached a fully-loaded CET1 ratio of 10.90%, after generating 58 basis points in the year. The Group maintains its 11% target for 2017

- Transformation: At the end of December 2016, BBVA’s digital customer base stood at 18.4 million (+20% y-o-y). Mobile customers grew 38% to 12.4 million

- Dividend: BBVA plans to implement the shareholder remuneration policy announced in 2013, which aims to distribute between 35% and 40% of profits to dividend payouts, with a 100% cash dividend

“First, improve customer satisfaction; second, increase digital sales, which we've doubled; third, acquire stakes in startups around the world, which we have;  fourth, bolster our capital position; fifth, improve our efficiency; and sixth, attract and retain a combination of banking and digital specialists and create a new breed of professionals,” he said ahead of the 2016 results presentation.

“In 2017, we will stay focused on the work at hand while forging ahead with our exciting transformation to create a new standard in global banking, as we aim to be one of the digital leaders in the new league of competitors that is now forming and create opportunities for our customers, who remain our biggest priority,” he added.