BBVA USA reports fourth quarter 2020 results
4Q20 net income of $334 million
- Revenue: Total revenue of $969 million, up 18 percent (annualized) from third quarter 2020 levels as both net interest income (+16 percent annualized) and noninterest income (+24 percent annualized) post double digit gains
- Expenses: Noninterest expense totals $578 million, down 12 percent (annualized) on a linked quarter basis and down 6 percent from the year ago quarter, excluding goodwill impairment. Efficiency ratio ends the quarter at 58.98 percent compared to 63.55 percent on a linked quarter basis and 67.92 percent in the year ago quarter
- Operating income: Operating income(1) in the quarter totals a record $391 million compared to $331 million recorded in the third quarter of 2020 and $279 million recorded in the fourth quarter of 2019
BBVA USA earns its fourth consecutive 100 percent on Human Rights Campaign Foundation s Annual Scorecard on LGBTQ Workplace Equality
- Fourth consecutive year: BBVA USA has been recognized four times in the HRC s Corporate Equality Index.
- Best Place to Work for LGBTQ Equality: The bank also earned the designation as a Best Place to Work for LGBTQ Equality.
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HOUSTON, Jan. 28, 2021 /PRNewswire/ BBVA USA received a perfect score of 100 on the 2021 Corporate Equality Index (CEI), the nation s premier benchmarking survey and report on corporate policies and practices related to lesbian, gay, bisexual, transgender and queer (LGBTQ) workplace equality, administered by the Human Rights Campaign (HRC) Foundation. The bank joins the ranks of over 680 major U.S. businesses that also earned top marks this year.
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BBVA Research publishes its first quarter U.S. Economic Outlook
January 25, 2021 GMT
BBVA s new logo (PRNewsfoto/BBVA)
HOUSTON, Jan. 25, 2021 /PRNewswire/ The BBVA Research team has published its Economic Outlook for first quarter 2021, noting that a post-holiday surge in COVID-19 cases and a vaccine rollout that is falling short of expectations have confirmed the need for further stimulus.
The report, published by the BBVA Research team headed by BBVA Chief Economist Nathaniel Karp, continues to highlight the ongoing economic impact of the pandemic, as well as the recent election. According to its authors, the mining and leisure & hospitality industries continue to struggle harder to recover compared to other industries. While the transportation industry remains acutely impacted, higher oil prices are supporting the oil and gas industry.
Project Blue Elf goes virtual as BBVA USA celebrates the holidays online
- Virtual financial education courses: BBVA USA employee volunteers conducted 77 workshops for more than 1,100 participants.
- Holiday sweepstakes: The bank s new digital financial education workshops featured a holiday sweepstakes giveaway.
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HOUSTON, Dec. 21, 2020 /PRNewswire/ After nearly a decade of bringing holiday joy to families across the country, the BBVA Foundation s Project Blue Elf campaign continues its focus on financial education in a uniquely 2020 way. This has been a challenging year for all of us, so while the Project Blue Elf events had to look a little different than years past, we knew we couldn t cancel, said BBVA Foundation President Reymundo Ocañas. Families across the country have been working hard to improve their financial knowledge and take advantage of opportunities. These virtual holiday events gave us a chance to h