The following is a summary of the Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) Q3 2024 Earnings Call Transcript:

Financial Performance:

• BBVA's Q3 2024 net attributable profit reached €2,627 billion, up 26% year-over-year and 6% below last quarter's record results. Earnings per share grew by 32% year-over-year.

• The CET1 capital ratio improved to 12.84%, indicating strong capital adequacy.

• Return on tangible equity achieved a record 20.1% for the first nine months of 2024.

• Tangible book value per share plus dividends increased by 16% year-over-year.

Business Progress:

• BBVA's Spain and Mexico markets showed strong loan growth, particularly in high-margin segments such as consumer and credit cards.

• The bank continues to focus on digital channels, acquiring 67% of new customers through these platforms.

• Sustainable business initiatives reached a total of €276 billion since 2018, aligning with global environmental and social governance trends.

Opportunities:

• BBVA Mexico's loan growth surpassing system gains, illustrating strong market share and future revenue potential.

• Digital transformation continues to drive efficient customer acquisition, with 8.5 million new customers added, enhancing long-term client engagement and profitability.

Risks:

• Projected operational risks tied to global economic fluctuations affecting currency values, particularly concerning the Mexican peso, could impact future profitability.

• Regulatory changes and compliance could affect operational dynamics, especially in Turkey where cost of risk is normalizing.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.