BBVA Group reported a boost in net attributable profit of €3.52 billion for FY17, up 1.3 percent on FY16. Net interest income was €17.76 billion, increasing 4.1 percent compared to 2016. Banking activity in Mexico outperformed FY16, with a 12.7 percent growth in net attributable profit, to €2.16 billion.
The operating income for the 4Q17 grew 9.2 percent to €3.41 billion compared to €3.12 billion in 3Q17, while the full-year results saw a 14.1 percent increase on FY16. The digital segments of the group experienced a significant acceleration, as the percentage of checking accounts opened digitally surged to 35 percent of total accounts in December 2017 from just 1 percent in December 2016.
The bank reported an exponential expansion of digital sales in all markets, accounting for 5 million units sold via mobile in 2017. The country is moving toward digitalization, as the cost of opening checking accounts was 67 percent less online, generating higher revenues and improving efficiency.
“2017 was a good year for BBVA. Our digital customer base grew 25 percent to reach 22.6 million, and almost 18 million customers already do their banking using their mobile services,” said Francisco González, President and Executive Chairman of BBVA Group. “Every time a customer goes digital, their satisfaction improves and their relationship with the bank multiplies.”