BBVA’s Q4 2021 net attributable profits were reported at €1.34bn ($1.5bn), up by a marginal 1.6% YoY, higher than forecasts of €1.02bn ($1.2bn) thanks to its Mexican unit’s performance which is its largest market accounting for over 50% of its profits. For the full year 2021, it reported €5.07bn ($5.8bn) in profits, the highest of the past ten years. Net income income rose 14.4% to €3.98bn ($4.6bn). The lender ended 2021 with a CET1 ratio of 12.75% compared with 14.48% in September after deducting €3.5bn ($3.95bn), due to its ongoing share buyback programme. However, the capital ratio is still higher than its targeted range of 11.5-12%. BBVA will pay a total dividend of €0.31/share for 2021, the highest in cash of the past decade.
BBVA’s dollar bonds were stable with its 6.5% Perp at 103.51, yielding 5.15%.
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