74 slides from Banco Bilbao Vizcaya Argentaria's earnings presentation, Jan 29, 2021
Slide 1: 2020 Results
2020 Results January 29th, 2021
Slide 2: Disclaimer
2020 Results 2 January 29th 2021 Disclaimer This document is only provided for information purposes and does not constitute, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by any of the aforementioned companies. Any deci
Slide 3: 2020 achievements
2020 Results 3 January 29th 2021 2020 achievements Successfully navigated through the crisis €63 billion1 with clear priorities DEFERRALS, PAYMENT FLEXIBILITY AND CREDIT FACILITIES PROVIDED THROUGH GOVERNMENT PROGRAMS Advanced in our strategy +56% addressing accelerating trends DIGITAL CLIENT ACQUIS
Slide 4: BBVA has taken a step forward in response to the COVID-19 crisis
2020 Results 4 January 29th 2021 BBVA has taken a step forward in response to the COVID-19 crisis Protect the health Provide an essential Offer financial and safety of our service to our support to our employees, clients and communities clients society BBVA has donated more Branch openings based on
Slide 5: Leveraging our digital capabilities to better serve our clients
2020 Results 5 January 29th 2021 Leveraging our digital capabilities to better serve our clients MOBILE CUSTOMERS GROUP DIGITAL SALES MILLION CUSTOMERS, PERCENTAGE YTD, PERCENTAGE 64.0% 57.7% 51.3% 34.5 36.3% 28.8 UNITS 21.8% 23.1 18.0 48.7% 41.9% 12.2 33.0% 23.1% VALUE-PRV1 14.8% Dec-16 Dec-17 Dec-
Slide 6: Our digital capabilities have proven to be differential in reaching more customers
2020 Results 6 January 29th 2021 Our digital capabilities have proven to be differential in reaching more customers GROSS NEW CUSTOMERS ACQUISITION1 (MN CUSTOMERS, % CUSTOMERS ACQUIRED THROUGH DIGITAL CHANNELS) 7.4 7.3 5.5 DIGITAL ACQUISITION 5.0 +56% vs. 2019 TOTAL 3.4 33.3% NON-DIGITAL2 21.2% 2.4
Slide 7: We continue to successfully deliver on sustainability strategy
2020 Results 7 January 29th 2021 We continue to successfully deliver on sustainability strategy Helping our clients transition towards a more sustainable future OVERDELIVERING ON BBVA’S PROVIDING SUSTAINABLE FINANCE AND ADVICE 2025 PLEDGE Wholesale clients New sustainable solutions for all segments
Slide 8: Solid quarterly profit evolution, improving capital position and TBV per share recovery
2020 Results 8 January 29th 2021 Solid quarterly profit evolution, improving capital position and tangible book value per share recovery in the year NET ATTRIBUTABLE PROFIT CET1 FULLY LOADED TBV/SHARE + DIVIDENDS (€M CURRENT) (%) (€/Share) PRO-FORMA3 14.58% Dec-20 1,320 1,163 1,141 304 CORPORATE 11.
Slide 9: 2020 top financial messages
2020 Results 9 January 29th 2021 2020 top financial messages 1 Solid core revenue growth NII + FEE INCOME (€ constant) +2.7% vs.12M19 2 Very strong cost control and efficiency OPERATING EXPENSES (€ constant) -2.6% vs.12M19 3 Resilient pre-provision profit growth OPERATING INCOME (€ constant) +11.7%
Slide 10: 2020 Profit & Loss
2020 Results 10 January 29th 2021 2020 Profit & Loss Change 2020/2019 BBVA Group (€m) 2020 % % constant Net Interest Income 16,801 -7.3 3.6 Net Fees and Commissions 4,616 -8.3 -0.4 Net Trading Income 1,692 22.3 37.6 Other Income & Expenses -135 n.s. n.s. Gross Income 22,974 -6.1 4.5 Operating Expens
Slide 11: 4Q20 Profit & Loss
2020 Results 11 January 29th 2021 4Q20 Profit & Loss Change 4Q20/4Q19 BBVA Group (€m) 4Q20 % % constant Net Interest Income 4,038 -14.2 1.4 Net Fees and Commissions 1,173 -9.1 2.2 Net Trading Income 213 -56.6 -46.0 Other Income & Expenses -157 n.s. n.s. Gross Income 5,266 -17.7 -3.2 Operating Expens
Slide 12: Solid core revenue growth
2020 Results 12 January 29th 2021 Solid core revenue growth NET INTEREST INCOME NET FEES AND COMMISSIONS (€M CONSTANT) (€M CONSTANT) + 1.4% + 2.2% +0.2% +4.1% 1,196 1,181 1,173 1,221 Growth thanks to 1,041 QoQ evolution 4,291 successful price driven by 4,234 4,142 4,284 4,083 management Mexico (CIB
Slide 13: Very strong cost control and efficiency
2020 Results 13 January 29th 2021 Very strong cost control and efficiency OPERATING EXPENSES GROUP OPERATING JAWS EFFICIENCY RATIO (€M CONSTANT) (12M20 YOY, %; € CONSTANT) (%; € CONSTANT) - 2.7% 63.7% FOOTPRINT 2,867 2,790 INFLATION 4.2% 46.8% 2.7% Average 12m -2.6% 4Q19 4Q20 Core Operating 12M20 Eu
Slide 14: Acceleration of digital trends reinforces our focus on efficiency
2020 Results 14 January 29th 2021 Acceleration of digital trends reinforces our focus on efficiency DIGITAL TRANSACTIONS1 COST-TO-INCOME RATIO TRANSACTIONS PER CLIENT BBVA GROUP. PERCENTAGE BBVA 29 -521 bps BBVA Group 52.0 51.9 vs. peers2 -249 bps since 2015 21 49.5 49.4 18 17 48.7 12 10 BBVA Spain
Slide 15: Risk indicators impacted by COVID-19 but better than initial expectations
2020 Results 15 January 29th 2021 Risk indicators impacted by COVID-19 but better than initial expectations FINANCIAL ASSETS IMPAIRMENTS NPLs (€M CONSTANT) (€BN) 0 Bn€ 2,380 1,594 16.7 16.0 16.4 16.2 16.7 1,023 1,031 903 4Q19 1Q20 2Q20 3Q20 4Q20 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 COST OF RISK NPL &
Slide 16: Deferrals' payment evolution better than expected
2020 Results 16 January 29th 2021 Deferrals’ payment evolution better than expected TOTAL LOAN DEFERRALS EXPIRED LOAN DEFERRALS 2ND DEFERRALS BREAKDOWN GRANTED PAYMENT BEHAVIOR (YTD DEC. 31, 2020; %) (YTD DEC. 31, 2020; %) (YTD DEC. 31, 2020; %) More than half are related to mortgages 7% Additional
Slide 17: Outstanding capital position
2020 Results 17 January 29th 2021 Outstanding capital position CET1 FULLY-LOADED QUARTERLY EVOLUTION (%, bps) 14.58% c.600 bps Above minimum +21 bps Requirement3 30 bps 15 bps 11.73% 11.52% -14 bps -10 bps 1 Sep-20 Results Dividend FX and Others2 Dec-20 Dec-20 3 Accrual & HTC&S Pro-forma AT1 Coupons
Slide 18: Capital target increase
2020 Results 18 January 29th 2021 Capital target increase New CET1 FL target: 11.5 - 12.0% CET1 FULLY-LOADED CET1 TARGET TO REQUIREMENT2 PERCENTAGE c. €8 bn BPS excess capital PEER 1 435 1 over target1 14.58% 341 New target PEER 2 335 New Target Range 11.50-12.00% 11.73% PEER 3 314 Previous Target R
Slide 19: BBVA USA transaction shows disciplined value-based approach to capital allocation
2020 Results 19 January 29th 2021 BBVA USA transaction shows disciplined value-based approach to capital allocation We will deploy the excess capital: In our markets through profitable growth and costs’ reduction Through increased distributions to shareholders Significant EPS and TBV per share accre
Slide 20: Capital deployment. Profitable organic growth with a disciplined approach
2020 Results 20 January 29th 2021 Capital deployment. Profitable organic growth with a disciplined approach PORTFOLIO GROWTH AND PROFITABILITY REGULATORY CAPITAL ALLOCATION RORC 2020 AND PORTFOLIO GROWTH 2017-201 RORC 2017-20 AVG. AND REGULATORY CAPITAL GROWTH 2017-201 Consumer Mexico Credit cards 2
Slide 21: Capital deployment. Shareholder distributions
2020 Results 21 January 29th 2021 Capital deployment. Shareholder distributions Extraordinary 2020 dividend 2021 ordinary dividend distributions Follows regulatory Plan to recover our clear, The excess capital allows guidance predictable and sustainable for additional policy once regulatory distribu
Slide 22: Business Areas
BBVA . reating Opportunities Business Nasties
Slide 23: Spain
2020 Results 23 January 29th 2021 Spain ACTIVITY (DEC-20) €Bn YoY 268.5 +8.1% Profit & Loss Δ (%) Δ (%) (€m) 4Q20 vs 4Q19 12M20 vs 12M19 YoY Net Interest Income 878 -3.1 3,553 -0.4 €Bn Net Fees and Commissions 453 -2.4 1,802 2.9 165.5 +0.8% Net Trading Income -43 n.s. 174 -27.2 Other Income & Expens
Slide 24: USA
2020 Results 24 January 29th 2021 USA ACTIVITY (DEC-20) (€ CONSTANT) Profit & Loss Δ Current Δ Constant YoY (€m constant) 4Q20 vs 4Q19 (%) 12M20 vs 12M19 (%) vs 12M19 (%) YoY €Bn Net Interest Income 603 6.8 2,284 -4.6 -2.6 €Bn 69.9 +13.1% Net Fees and Commissions 170 12.9 665 3.2 5.5 57.9 -0.0% Net
Slide 25: Mexico
2020 Results 25 January 29th 2021 Mexico ACTIVITY (DEC-20) (€ CONSTANT) YoY €Bn Profit & Loss Δ Current Δ Constant YoY 75.9 +10.5% (€m constant) 4Q20 vs 4Q19 (%) 12M20 vs 12M19 (%) vs 12M19 (%) Net Interest Income 1,377 -1.6 5,415 -12.8 -0.7 Net Fees and Commissions 299 -0.7 1,065 -17.9 -6.6 €Bn Net
Slide 26: Turkey
2020 Results 26 January 29th 2021 Turkey ACTIVITY (DEC-20) (€ CONSTANT; BANK ONLY) Profit & Loss Δ Current Δ Constant (€m constant) 4Q20 vs 4Q19 (%) 12M20 vs 12M19 (%) vs 12M19 (%) Net Interest Income 689 10.3 2,783 -1.1 25.2 YoY1 YoY1 Net Fees and Commissions 141 4.1 510 -28.8 -9.9 Net Trading Inco
Slide 27: South America
2020 Results 27 January 29th 2021 South America ACTIVITY (DEC-20) (€ CONSTANT) 1 Net Attributable Profit 0 Δ Current Δ Constant YoY (€m constant) 4Q20 vs 4Q19 (%) 12M20 vs 12M19 (%) vs 12M19 (%) YoY €Bn Colombia 64 3.8 165 -38.0 -28.9 50.6 +22.5% Peru 35 -21.7 110 -45.6 -41.8 €Bn 33.7 +12.6% Argenti
Slide 28: Final remarks and 2021 outlook
Final remarks and 2021 outlook
Slide 29: 2020 in review
1Q20 Results 29 April 30th 2020 2020 in review Successfully navigated through the crisis with clear priorities: first and foremost, the safety and health of our employees, clients and society, and support our clients Advanced in our strategy addressing accelerating trends Delivered excellent results
Slide 30: Macroeconomic outlook
2020 Results 30 January 29th 2021 Macroeconomic outlook GDP GROWTH ESTIMATES (% YoY) FOOTPRINT1 SPAIN MEXICO USA 5.5 4.7 3.2 3.6 2.0 2.2 1.1 0.0 -3.6 -7.2 -9.1 -11.0 2019A 2020 2021 2019A 2020 2021 2019A 2020 2021 2019A 2020 2021 TURKEY ARGENTINA COLOMBIA PERU 10.0 5.0 6.0 4.8 3.3 2.2 0.9 1.0 -2.1 -
Slide 31: 2021 Outlook
1Q20 Results 31 April 30th 2020 2021 Outlook Core revenues to continue growing with improving mix, price management and fee income as key levers Costs to grow below inflation 2021 CoR below 2020 levels, although uncertainties remain Sizeable distributions to our shareholders in 2021
Slide 32: Annex
Annex 01 Net Attributable Profit 09 ALCO Portfolio, NII Sensitivity evolution and LCRs & NSFRs 02 Gross Income breakdown 10 CET1 Sensitivity to market impacts 03 P&L Accounts by business unit 11 CET1 YTD & RWAs by business area 04 Customer Spread by country 12 Book Value of the main subsidiaries 05
Slide 33: Net Attributable Profit evolution
01 Net Attributable Profit evolution
Slide 34: Net Attributable Profit evolution
2020 Results 34 January 29th 2021 Net Attributable Profit evolution €MN BUSINESSES -1,497€m 4,830 594 344 3,084 164 9 780 147 613 130 12M19 FX Spain USA Mexico Turkey Rest of South America Corp. Center 12M20 Effect Eurasia YoY (%) -56.3 -25.4 -25.8 41.0 -7.3 -22.6 (constant €) Note: (1) Excluding BB
Slide 35: Gross Income breakdown
02 Gross Income breakdown
Slide 36: Gross Income breakdown
2020 Results 36 January 29th 2021 Gross Income breakdown 12M20 Spain 5,554€m Rest of Eurasia 510 €m 24% 2% USA 14% 3,152 €m South America 14% 3,225 €m 16% Turkey 3,573 €m 30% Mexico 7,016 €m Note: Figures exclude Corporate Center.
Slide 37: P&L Accounts by business unit
03 P&L Accounts by business unit Rest of Eurasia Corporate Center Colombia Peru
Slide 38: Rest of Eurasia – Profit & Loss
2020 Results 38 January 29th 2021 Rest of Eurasia – Profit & Loss Profit & Loss Δ (%) Δ (%) (€m) 4Q20 vs 4Q19 12M20 vs 12M19 Net Interest Income 56 23.8 214 22.4 Net Fees and Commissions 33 0.2 150 8.2 Net Trading Income 32 -14.5 137 4.4 Other Income & Expenses 2 201.1 9 -4.8 Gross Income 122 5.6 51
Slide 39: Corporate Center – Profit & Loss
2020 Results 39 January 29th 2021 Corporate Center – Profit & Loss Profit & Loss Δ (%) Δ (%) (€m) 4Q20 vs 4Q20 12M20 vs 12M19 Net Interest Income -47 14.7 -149 -36.0 Net Fees and Commissions -9 -15.9 -59 -18.6 Net Trading Income -71 n.s. 104 n.s. Other Income & Expenses 45 104.2 47 n.s. Gross Income
Slide 40: Colombia – Profit & Loss
2020 Results 40 January 29th 2021 Colombia – Profit & Loss Profit & Loss Δ (%) Δ (%) (€m constant ) 4Q20 vs 4Q19 12M20 vs 12M19 Net Interest Income 201 8.9 781 8.1 Net Fees and Commissions 20 9.2 70 -7.8 Net Trading Income 17 5.9 74 23.5 Other Income & Expenses -2 n.s. -12 n.s. Gross Income 235 5.6
Slide 41: Peru – Profit & Loss
2020 Results 41 January 29th 2021 Peru – Profit & Loss Profit & Loss Δ (%) Δ (%) (€m constant ) 4Q20 vs 4Q19 12M20 vs 12M19 Net Interest Income 203 0.6 808 -3.9 Net Fees and Commissions 62 15.2 218 0.5 Net Trading Income 46 -7.2 159 -5.6 Other Income & Expenses -10 111.1 -31 49.9 Gross Income 301 0.
Slide 42: Customer spread by country
04 Customer spread by country
Slide 43: Customer spreads: quarterly evolution
2020 Results 43 January 29th 2021 Customer spreads: quarterly evolution AVERAGE 4Q19 1Q20 2Q20 3Q20 4Q20 4Q19 1Q20 2Q20 3Q20 4Q20 Spain 1.99% 1.96% 1.92% 1.89% 1.82% Turkey TL 7.12% 7.46% 7.30% 6.05% 3.90% Yield on Loans 2.02% 1.99% 1.93% 1.89% 1.83% Yield on Loans 16.46% 14.58% 13.22% 12.17% 12.88%
Slide 44: Customer spreads: YTD evolution
2020 Results 44 January 29th 2021 Customer spreads: YTD evolution YTD AVERAGE 12M19 12M20 12M19 12M20 Spain 1.99% 1.90% Turkey TL 4.17% 6.09% Yield on Loans 2.04% 1.91% Yield on Loans 18.26% 13.14% Cost of Deposits -0.05% -0.01% Cost of Deposits -14.09% -7.06% USA 3.98% 3.68% Turkey FC1 5.19% 4.93%
Slide 45: Outstanding loan commitments to non-financial corporations
05 Outstanding loan commitments to non-financial corporations
Slide 46: Outstanding loan commitments to non-financial corporations
2020 Results 46 January 29th 2021 Outstanding loan commitments to non-financial corporations BREAKDOWN BY BUSINESS AREAS (DEC-20) € bn 1 USA 26.1 Spain 20.1 Eurasia 17.6 Turkey 2.4 Mexico 3.2 South America 1.6 Total Group 71.0 (1) USA includes € 15.1 billion of loan commitments in the NY branch.
Slide 47: Stages breakdown by business areas
06 Stages breakdown by business areas
Slide 48: Stages breakdown by business area
2020 Results 48 January 29th 2021 Stages breakdown by business area CREDIT RISK BREAKDOWN BY BUSINESS AREA (DEC-20, € MN) Gross Accumulated Gross Accumulated Gross Accumulated BBVA GROUP SPAIN USA Exposure impairments Exposure impairments Exposure impairments Stage 1 361,329 2,368 Stage 1 170,678 74
Slide 49: EAD to most vulnerable sectors in the current environment
07 EAD to most vulnerable sectors in the current environment
Slide 50: Exposure at default to most vulnerable sectors in the current environment
2020 Results 50 January 29th 2021 Exposure at default to most vulnerable sectors in the current environment BREAKDOWN BY SECTORS (DEC-20) bn € Leisure 1 9.28 Commercial Real Estate 7.00 Developer Real Estate 5.80 Retailers non food 4.98 Upstream & Oilfield services 2, 3 2.41 Air transportation 0.97
Slide 51: Outstanding loan deferrals & loans backed by State guarantees
08 Outstanding loan deferrals & loans backed by State guarantees
Slide 52: Prudent deferrals' classification and proactive provisioning
2020 Results 52 January 29th 2021 Prudent deferrals’ classification and proactive provisioning Expired deferrals by stages TOTAL DEFERRALS GRANTED o/w expired (Jan to Dec '20) as a % of total loans €BN % of total loans % Stage 1 Stage 2 Stage 3 Total Group 33.8 8.5% 80% 4.62% 1.68% 0.47% By segment
Slide 53: Outstanding loan deferrals
2020 Results 53 January 29th 2021 Outstanding loan deferrals OUTSTANDING DEFERRALS (DEC-20) €bn % of loans Total Group 6.8 1.70% Spain 4.1 2.0% Mexico 0.0 0.0% USA 0.3 0.5% Turkey 1.3 3.1% Peru 0.5 2.5% Colombia 0.4 2.8% Argentina 0.3 9.6% Note: data breakdown under EBA criteria.
Slide 54: Government backed loans
2020 Results 54 January 29th 2021 Government backed loans (data in €bn) GROUP SPAIN(2) MEXICO USA(3) TURKEY (4) ARGENTINA COLOMBIA PERU Loans Weight Loans Weight Loans Weight Loans Weight Loans Weight Loans Weight Loans Weight Loans Weight Households 1.2 0.7% 1.0 1.0% 0.0 0.0% 0.0 0.0% 0.0 0.0% 0.1
Slide 55: ALCO Portfolio, NII Sensitivity and LCRs & NSFRs
09 ALCO Portfolio, NII Sensitivity and LCRs & NSFRs
Slide 56: ALCO portfolio
2020 Results 56 January 29th 2021 ALCO portfolio ALCO PORTFOLIO BREAKDOWN BY REGION (€ BN) Amort Cost Fair Value 50.8 56.9 57.6 (HTC) (HTC&S) 3.9 3.8 2.7 December 2020 (€BN) (€BN) (duration) South America 7.9 9.0 Mexico 6.3 South America 0.1 3.7 1.2 years 7.1 7.2 2.4 6.6 2.7 years Turkey 7.9 Mexico
Slide 57: NII sensitivity to interest rates movements
2020 Results 57 January 29th 2021 NII sensitivity to interest rates movements ESTIMATED IMPACT ON NII IN THE NEXT 12 MONTHS TO PARALLEL INTEREST RATE MOVEMENTS (%) NII SENSITIVITY TO +100 BPS NII SENSITIVITY TO -100BPS 20% 0% 15% -5% 10% -10% 5% -15% 0% -20% Euro Mexico Euro Mexico Note: NII sensiti
Slide 58: Liquidity and funding ratios
2020 Results 58 January 29th 2021 Liquidity and funding ratios BBVA GROUP AND SUBSIDIARIES LCR & NSFR (DEC-2020) BBVA GROUP Euro USA Mexico Turkey S. America LCR 149% (185%1) 173% 144% 2 196% 183% All countries >100% NSFR 127% 121% 126% 138% 154% All countries >100% (1) LCR of 149% does not consider
Slide 59: CET1 sensitivity to market impacts
10 CET1 sensitivity to market impacts
Slide 60: CET1 Sensitivity to Market impacts
2020 Results 60 January 29th 2021 CET1 Sensitivity to Market impacts1 TO A 10% DECLINE IN TELEFONICA SHARE PRICE (DEC-20) TO A 10% CURRENCY DEPRECIATION (DEC-20) - 2bps MXN -5bps TRY -2bps TO +100 BPS MOVEMENT IN THE USD +9bps SPANISH SOVEREIGN BOND (DEC-20) - 16bps (1) CET1 sensitivity considering
Slide 61: CET1 YTD & RWAs by business area
11 CET1 YTD & RWAs by business area
Slide 62: Capital YTD Evolution
2020 Results 62 January 29th 2021 Capital YTD Evolution CET1 FULLY-LOADED – BBVA GROUP YTD EVOLUTION (%, BPS) -1 bp 84 bps -21 bps 11.74% -28 bps 11.73% -36 bps Dec-19 Net Earnings Dividend FX and Others* Dec-20 accrual & HTC&S AT1 coupons (*) Includes mainly: RWAs evolution in constant euros, front
Slide 63: Risk-Weighted Assets by business areas
2020 Results 63 January 29th 2021 Risk-Weighted Assets by business areas Fully-Loaded RWAs Breakdown by business area (€m) Dec-20 Sep-20 Dec-19 Spain 104,388 106,859 104,911 USA 60,365 63,021 65,170 Turkey 53,021 50,131 56,642 Mexico 60,797 53,443 59,299 South America 39,804 40,087 45,413 Argentina
Slide 64: Book Value of the main subsidiaries
12 Book Value of the main subsidiaries
Slide 65: Book Value of the main subsidiaries
2020 Results 65 January 29th 2021 Book Value of the main subsidiaries1,2 € BN, DEC-20 Mexico 11.1 USA 7.7 Turkey 3.6 Colombia 1.3 Perú 1.0 Argentina 0.8 Chile 0.3 Venezuela 0.1 (1) Includes the initial investment + BBVA’s undistributed results + FX impact + other valuation adjustments. The Goodwill
Slide 66: TBV per share and dividends evolution
13 TBV per share and dividends evolution
Slide 67: Shareholders' return: TBV per share and dividends
2020 Results 67 January 29th 2021 Shareholders’ return: TBV per share and dividends TBV PER SHARE & DIVIDENDS (€ PER SHARE) -1.0% 6.21 6.27 5.94 6.03 6.00 0.16 0.16 0.16 0.16 DIVIDENDS 6.05 TBV/SHARE 5.87 5.84 5.78 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20
Slide 68: Garanti BBVA: wholesale funding
14 Garanti BBVA: wholesale funding
Slide 69: Turkey – Liquidity & funding sources
2020 Results 69 January 29th 2021 Turkey – Liquidity & funding sources Solid liquidity position: • Total LTD ratio is at 93.5%, decreasing by -2.2 p.p in 4Q20 driven by a decrease both in TRY and FC LtD • Foreign currency loans decreased by USD 0.4 Bn to c. USD 12.6 Bn in 4Q20 • Liquidity ratios abo
Slide 70: Argentina: hyperinflation adjustment
15 Argentina: hyperinflation adjustment
Slide 71: Argentina hyperinflation adjustment
2020 Results 71 January 29th 2021 Argentina hyperinflation adjustment Profit & Loss 12M20 Hyperinflation 12M20 (€m) (reported) adjustment Ex. Hyperinflation Net Interest Income 779 109 670 Net Fees and Commissions 121 14 107 Net Trading Income 142 11 131 Other Income & Expenses -302 -243 -59 Gross I
Slide 72: Digital sales breakdown
16 Digital sales breakdown
Slide 73: Outstanding trend in digital sales
2020 Results 73 January 29th 2021 Outstanding trend in digital sales (% OF TOTAL SALES YTD, # OF TRANSACTIONS AND PRV1) UNITS PRV GROUP SPAIN USA 64.0 57.7 51.3 52.9 55.5 UNITS 45.1 36.7 48.7 26.1 27.8 41.9 44.6 36.8 PRV 40.7 33.0 34.0 24.3 23.1 Dec-18 Dec-19 Dec-20 Dec-18 Dec-19 Dec-20 Dec-18 Dec-1
Slide 74: Slide 74