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BBVA reports positive results and reinstates dividends

By Jenny McCall

09:00, 30 September 2021

A picture of BBVA bank in San Telmo mall in Aguascalientes, Mexico, showing the BBVA bank logo
BBVA bank in San Telmo mall in Aguascalientes, Mexico – Photo: Shutterstock

Spanish multinational financial services company, Banco Bilbao Vizcaya Argentaria, S.A., also known as BBVA, has reported positive six-month results today. 

The Madrid-based company posted an increase in deposits from customers, which rose to €338.7m ($392.7m, £291.8) compared to last year’s figure of €331.3m.

Total customer funds also increased to €448.3m versus last year’s figure of €432.1m. Operating income totalled €5.6bn, representing a year-on-year growth of 4.7%.

Profit and loss

Gross income was slightly down by -3.6% at €10.3m compared to 2020’s figure of €10.6m. Net attributable profit or (loss), excluding non-recurring impacts, was up by 145% at €2.3m compared to €943,000 in the same period last year.

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Dividend policy

The group also announced its intention to reintroduce its dividend policy. It said it was delivering on its clear message to deliver “shareholder value”.

“BBVA  intends  to  reintroduce  its  dividend  policy  announced  on  February  1,  2017  by  the  release  of  relevant  information,  that consist  in  the  distribution  of  an  annual  payout  of  between  35%  and  40%  of  the  profits  obtained  in  each  financial  year  fully  in cash  in  two  different  payments  (expected  for  October  and  April,  subject  to  the  applicable  authorizations)  as  from September  30,  2021,” the statement said.

The BBVA stock price was up this morning by 0.35% at €5.74 in morning trading on the Euro STOXX 50.

Read more: Major European lenders see strong first-half profit growth

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