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BBVA: Q1 adjusted EPS jumps 73.9%

( - BBVA has reported Q1 recurring net profit of 1.
6 billion euros up 36.4% y-o-y.

Spain's second largest bank reported a 23.7% increase in EBIT to 3.5 billion euros.

BBVA has reported adjusted EPS of 0.24 euro, up 73.9%.

Management highlights the significant improvement in profitability (RTE) with a return of 15.9%, while "the efficiency ratio improved significantly, reaching 40.7 percent", saying that it is ahead of its European competitors in these metrics.

It is also pleased to win 2.4 million new customers this quarter, enabling optimism for 2022, reinforcing confidence in its ability to achieve targets set for 2024.

The market seems pretty pleased with all this, with the BBVA share up about 4.5% in mid-morning trading today.

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