Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria is an international financial group, engaged primarily on providing banking services and consumer finance to private individuals and businesses in Spain and Portugal; providing real estate activity in Spain; providing services to international companies and investment banking, capital markets and treasury management services to clients; and providing the banking, insurance and pension businesses in Mexico and the U.S., as well as in South America.
  • TickerBBVA
  • ISINES0113211835
  • ExchangeMadrid Stock Exchange
  • SectorBanks
  • CountrySpain

Analysts

Ahmed Ben Salem ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Nicolas David
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/05/2019

...

Jean Sassus ...
  • Steven Gould

BBVA : Q1 2019: no clear fundamental upturn…

>Q1 2019 aided by situation in Turkey not being as bad as expected - BBVA has reported Q1 2019 figures a shade higher than forecast (net profit = € 1.16bn, +2% vs consensus but -13% y-o-y), mainly underpinned by the situation in Turkey being less challenging than expected (cost of risk). Revenues = € 6.1bn (+1% vs consensus, flat y-o-y)Interest revenues = € 4.4bn (+1% vs consensus, +3% y-o-y) – good relative performance despite less favourable seasonal imp...

Johann Scholtz

BBVA 1Q: Mexico and Turkey Perform Better Than Anticipated

BBVA reported net attributable profit of EUR 1.2 billion for the first quarter of 2019, a 10% decrease compared with the first quarter of 2018 and slightly better than consensus expectations of net profit of EUR 1.1 billion. Pre-provision profits increased 3% year on year, a 24% surge in credit losses however eradicated all the gains. Management attributed the sharp increase in credit costs to a macro overlay provision and weakness in the U.S. consumer loan book. We maintain our narrow-moat rati...

1 director sold

A director at Banco Bilbao Vizcaya Argentaria Sa sold 20,000 shares at 5.120EUR and the significance rating of the trade was 58/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

Banco Bilbao Vizcaya Argentaria, S.A.: Update following affirmation of deposits at A2 and debt at A3; outlook stable

Our credit view of Banco Bilbao Vizcaya Argentaria, S.A., reflecting its extraordinary business diversification and overall sound financial profile.

Banco Bilbao Vizcaya Argentaria, S.A., Turkiye Garanti Bankasi A.S.: BBVA faces growing risks in troubled Turkish market

This report addresses questions about the challenges facing BBVA in Turkey.

Banco Bilbao Vizcaya Argentaria, S.A.: Update following upgrade of deposits to A2 and debt to A3; outlook stable

Our credit view of BBVA, reflecting its extraordinary business diversification and overall sound financial profile.

Ahmed Ben Salem ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Delphine Brault
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Nicolas David
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/05/2019

...

Jean Sassus ...
  • Steven Gould

BBVA : Q1 2019: no clear fundamental upturn…

>Q1 2019 aided by situation in Turkey not being as bad as expected - BBVA has reported Q1 2019 figures a shade higher than forecast (net profit = € 1.16bn, +2% vs consensus but -13% y-o-y), mainly underpinned by the situation in Turkey being less challenging than expected (cost of risk). Revenues = € 6.1bn (+1% vs consensus, flat y-o-y)Interest revenues = € 4.4bn (+1% vs consensus, +3% y-o-y) – good relative performance despite less favourable seasonal imp...

Johann Scholtz

BBVA 1Q: Mexico and Turkey Perform Better Than Anticipated

BBVA reported net attributable profit of EUR 1.2 billion for the first quarter of 2019, a 10% decrease compared with the first quarter of 2018 and slightly better than consensus expectations of net profit of EUR 1.1 billion. Pre-provision profits increased 3% year on year, a 24% surge in credit losses however eradicated all the gains. Management attributed the sharp increase in credit costs to a macro overlay provision and weakness in the U.S. consumer loan book. We maintain our narrow-moat rati...

Jean Sassus ...
  • Steven Gould

ODDO : Aide-toi, la BCE t’aidera… ou pas

>Normalisation des taux : les banques attendront… encore - La BCE exclut dorénavant une normalisation des taux de dépôts d’ici fin 2019. De plus Mr Draghi semble la conditionner à l’objectif d’inflation. Cela peut faire craindre un statu quo prolongé puisque la BCE table sur une inflation de 1.5% à 1.6% en 2020-2021. Mr Draghi n’a pas évoqué de mesures destinées à mitiger l’impact des taux négatifs pour le secteur. Le coût pour l’ensemble du secteur serait d’environ 7...

Johann Scholtz

Morningstar | Banco Bilbao Vizcaya Argentaria Fiscal-Year 2018: Resilient Results in a Challenging Environment

Banco Bilbao Vizcaya Argentaria reported net attributable profit of EUR 5.3 billion for the 2018 fiscal year. Unadjusted, this represents a 51% increase on 2017; however, if we exclude some large non-recurring items in both the 2017 and 2018 fiscal years, the underlying earnings growth decreases to 7%. This was in line with our and consensus' estimates. We maintain our narrow moat rating, mainly due to the cost advantages and switching costs that its Mexican operation BBVA Bancomer enjoys in its home market. We decrease our fair value estimate for BBVA to EUR 5.90 from EUR 6.30 previously. Fa...

1 director sold

A director at Banco Bilbao Vizcaya Argentaria Sa sold 20,000 shares at 5.120EUR and the significance rating of the trade was 58/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

Ahmed Ben Salem ...
  • Alex Koagne
  • Alexandre Iatrides
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Olfa Taamallah
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/31/2018

...

Ahmed Ben Salem ...
  • Alex Koagne
  • Alexandre Iatrides
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Olfa Taamallah
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/10/2018

...

Ibrahim Firdaus

BBVA

Ibrahim Firdaus

BBVA

Ibrahim Firdaus

BBVA

Ibrahim Firdaus

BBVA

Ibrahim Firdaus

BBVA

null

MarketLine Department

CaixaBank SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

CaixaBank SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's CaixaBank SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by CaixaBank SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity und...

Expert Corporate Governance Service (ECGS)

BBVA - March, 14 2019

In item 2.1, the Board proposes to appoint the former CEO Mr. Carlos Torres Vila as executive Chairman. We strongly regret that the roles of management and control are not separated, and we have serious concerns over the excessive remuneration of the Lead Independent Director (€ 584'000 in 2018, including cash and restricted shares), an amount that may seriously compromise his independent judgement of the Bank's management. Therefore, we recommend opposition. In item 2.2, the Board proposes to appoint Mr. Onur Genç as Group CEO. We have concerns over the short experience of Mr Genç in bankin...

Banco Bilbao – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

Matthieu DRIOL

Analyse court terme - BBVA : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 4,931 €. La tendance de fond serait remise en cause en cas de franchissement de 6,282 €.

Valérie GASTALDY

Analyse moyen terme - BBVA : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 4,614 €, puis 4,005 €. Le franchissement de 6,773 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Analyse court terme - BBVA : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. La reprise est une consolidation qui va buter sur 5,608 € prochainement. La baisse risque de reprendre jusqu'à 5,023 €. La tendance de fond serait remise en cause en cas de franchissement de 6,400 €.

Matthieu DRIOL

Short term view - BBVA : Rising consolidation.

The background trend is clearly bearish. The rise is a consolidation that will soon bump against the level at €5.608. The fall might resume toward €5.023. The background trend would be questioned should prices rise above €6.400.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch