BBVA Q1 Profit Down - Quick Facts

(RTTNews) - BBVA Group Monday reported first-quarter net profit of €1.16 billion or €0.16 per share, down 9.8 percent from a year ago. Last year's profit was €1.29 billion or €0.18 per share

Excluding BBVA Chile's from the comparison, the unit that was sold in July 2018, the result was 7.7 percent lower versus a year ago.

"We started the year with positive dynamics. Operating income grew above 10 percent, thanks to strong core revenue generation and a significant improvement in efficiency. Also, we continued to reap the benefits of our digital transformation in terms of customer growth and engagement," said BBVA CEO Onur Genç.

BBVA said that it continued to make progress in its transformation, with a clear impact on growth of its customer base, productivity, efficiency and customer experience.

Digital unit sales account for 57 percent of the total and over half of the customers use digital channels to interact with the bank.