BBVA continues increasing digital banking activity

Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) has seen a solid growth of its digital banking activity, data from its Q1 earnings report show.

The customer base which  engages with the bank through digital channels reached 15.5m at the end of Q1 2016, which represents a 20% increase year-on-year. Of these customers, 9.4m engaged with BBVA using their mobile phones, 45% y-on-y.

On the other hand, digital sales have continued to increase across all franchises. For example, in the US the percentage of transactions closed through digital channels stood at 18.7%, compared to 9.3% in 2015.

Digital sales are also starting to increase in South America (16.5% in Q1 2016, compared to 8.7% in 2015), Spain (12.1% in the first quarter of 2016 versus 8.8% in 2015), Turkey (14.6% in Q1 2016 compared to 13.9% in 2015) and Mexico (3.9% in Q1 2016 vs. 2.1% in 2015).

Speaking about the group’s first-quarter results, BBVA CEO Carlos Torres Vila said the bank is aiming to grow digital sales. “This type of sales in Spain accounted for more than 12% of total sales in Spain in the first quarter, an important increase, which is 40% more compared to last year.”

On 7 March, the bank announced the acquisition of Holvi, a Helsinki-based online banking service for companies. This operation is part of BBVA’s strategy to expand its
portfolio of digital businesses in order to complete the group’s digital transformation, BBVA said.

BBVA group posted a net attributable profit of €709m in the first quarter of 2016, down 53.8% from the same period a year earlier. Quarterly results were hindered by a number of factors, including the impact of exchange rates, lower results from NTI and the lack of corporate operations.

In contrast, in Q1 2015 profits were bolstered by the partial sale of the BBVA Group’s stake in Chinese bank CNCB. Excluding this factor, profit was 11.6% lower in constant exchange terms, BBVA said.

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