Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) Q4 2023 Earnings Call Transcript

Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) Q4 2023 Earnings Conference Call January 30, 2024 3:30 AM ET

Company Participants

Patricia Bueno - Investor Relations
Onur Genc - Chief Executive Officer
Luisa Gomez Bravo - Group Chief Financial Officer

Conference Call Participants

Maks Mishyn - JB Capital
Antonio Reale - Bank of America
Benjamin Toms - RBC Capital Markets
Sofie Peterzens - J.P. Morgan
Ignacio Ulargui - BNP Paribas Exane
Francisco Riquel - Alantra
Alvaro Serrano - Morgan Stanley
Carlos Cobo - Societe Generale
Britta Schmidt - Autonomous Research
Andrea Filtri - Mediobanca
Ignacio Cerezo - UBS
Marta Sanchez Romero - Citi
Fernando Gil - Bestinver
Carlos Peixoto - CaixaBank
Hugo Cruz - KBW

Operator

Good morning. Welcome, and thank you for joining BBVA's Fourth Quarter Earnings Conference Call. With us today are Onur Genc, our CEO; and Luisa Gomez Bravo, the Group CFO. After the speaker's remarks on the Group's results and our expectations for 2024, we will open a live Q&A session.

Now, I turn the call over to Onur.

Onur Genc

Thank you, Patricia. Good morning to everyone. I will start, I'll jump into it right away, starting with page number three, by highlighting the acceleration of our profitable growth strategy in the year, as the title says. First, I want to highlight that the best way that we can contribute to our stakeholders and the society in general is through our activity of lending, our activity of banking business, and through growing our business. In that sense, we have increased our loan portfolio by 7.6% this year, and we have acquired more than 11 million new customers.

Second, from the top, the financial results that we see today are the outcome of the significant progress in the execution of our strategy. In 2023, 79% obviously, a record of our unit sales were done