BBVA posted a net profit of 6,420 million euros in 2022, which represents a 38% increase (+39% without currency effect) compared to the previous year, the highest profit to date as reported by the organization this Wednesday.
With this result, more than €3,000 million (47% of reported attributable profit) of these results will be dedicated to shareholders’ compensation.
On the one hand, it proposes increasing the cash dividend for the year to 43 gross euro cents per share (a 14-year high and 39% more than in 2021).
Following the 12 cents per share paid in October, the bank will present the 31 cents per share dividend expected to be paid in April for the approval of the general assembly.
In addition, the bank will launch a new share repurchase plan worth 422 million euros.
This remuneration is in line with the Group’s shareholder remuneration policy, which requires an annual distribution of 40% to 50% of the profit for the period and includes the option to combine cash payment and share repurchase.
The bank attributed the result in 2022 to the “strong” increase in revenue driven by double-digit growth in loans (+13.3% in constant euros).
Likewise, the net margin recorded a record €14,130 million, 29.2% more than in 2021.
“2022 has been a year of growth for BBVA. We have achieved the biggest profit in our history by making great progress in our strategy focused on strong credit expansion and digitalisation, innovation and sustainability. Despite the uncertainty to the future, now BBVA President Carlos Torres Vila is committed to creating opportunities for everyone and continuing to work in 2023. We will continue to contribute to the economic and social development of countries.
Source: Informacion
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