Spanish banking group BBVA has reported net attributable profit of €2.65bn for the first half of 2018. The BBVA results saw a jump of 14.9% from €2.31bn in the year ago period.

For the first half ended 30 June 2018, the banking group’s gross income dropped 5.1% to €12.07bn from €12.72bn in the first half of last year.

The fall in the gross income was primarily attributed the fall in net interest income and the rise in fees and commissions by 1.5% on a year-on-year basis.

BBVA results

During the period, BBVA’s net interest income stood at €8.64bn, down 1.8% from €8.80bn in the year ago half.

The group’s operating income too fell 4.3% from €6.40bn in the first half of 2017 to €6.13bn in first half of 2018.

The operating expenses also dropped 5.8%, indicating strong cost discipline measures across the group.

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BBVA Group in its financial statement noted that it has also advanced to achieve its target to have 50% digital customers this year.

As of 30 June, 25.1 million customers representing nearly 46% of its total clientele banked through digital channels, a surge of 26% year-on-year.

Overall, mobile customers made up 38% of the bank’s global customer base.

Commenting on the performance, BBVA CEO Carlos Torres Vila said: “Thanks to the progress achieved in the bank’s transformation, recurring revenues grew strongly during the first half of the year.

“This has been a very good quarter with significant improvements in profitability and value creation for our shareholders.”