With €400 Bn In Assets At End-First Quarter, BBVA Has Become Spain’s Leading Bank By size

BBVA's dividendThe bank lost €1.792 billion in the first quarter of this year

Banca March | At the end of the first quarter, BBVA strengthened its leadership in the ranking by assets in Spain. For the first time in its history, BBVA broke the €400 billion barrier in assets, which is more than Bankia and Sabadell combined. The significant increase, close to €50 billion, is due in part to increased operations in derivatives and repos. In this ranking, Caixabank is a close second (€377.668 billion reported) and Santander in third position (€315.778 billion). The three institutions account for almost 1 billion in assets and 60% of the assets of the country’s 11 largest banks. Yesterday BBVA’s share price rose 2.4%.

The bank lost €1.792 billion in the first quarter of this year, the biggest quarterly fall in its history. This was due to front-loading provisions worth €1.433 billion due to the Covid-19 crisis and the impact of the adjustment of goodwill in the US.