Banco Bilbao Vizcaya Argentaria, S.A. (the “Bank” or “BBVA”) is a private-law entity governed by the rules and regulations applicable to banks operating in Spain and is the parent company of the financial group whose object is to engage directly or indirectly in activities, transactions, agreements and services relating to the banking business. The Bank conducts its business through branches and offices located throughout Spain and abroad.
The Banco Bilbao Vizcaya Argentaria Group (the “Group” or “BBVA Group”) is an internationally diversified financial group with a significant presence in traditional retail banking, asset management, private banking and wholesale banking.
The financial information included in this management report is presented in accordance with the criteria established by the International Financial Reporting Standards endorsed by the European Union (EU-IFRS) approved by the European Union and taking into account Bank of Spain Circular 4/2004, and its subsequent amendments.
The most relevant data and ratios of the BBVA Group as of December 31, 2011 and 2010 are as follows:
| BBVA Group Highlights | Millions of Euros | ||
|---|---|---|---|
| 2011 | 2010 | % Change 2011-2010 |
|
| Balance sheet (million euros) |
|
|
|
| Total assets | 597,688 | 552,738 | 8.1 |
| Total lending (gross) | 361,310 | 348,253 | 3.7 |
| Customer deposits | 282,173 | 275,789 | 2.3 |
| Other customer funds | 144,291 | 146,188 | (1.3) |
| Total customer funds | 426,464 | 421,977 | 1.1 |
| Total equity | 40,058 | 37,475 | 6.9 |
| Stockholder's funds | 40,952 | 36,689 | 11.6 |
| Income statement |
|
|
|
| Net interest income | 13,160 | 13,320 | (1.2) |
| Gross income | 20,566 | 20,910 | (1.6) |
| Operating income | 10,615 | 11,942 | (11.1) |
| Income before tax | 3,770 | 6,422 | (41.3) |
| Net attributable profit | 3,004 | 4,606 | (34.8) |
| Data per share and share performance ratios |
|
|
|
| Share price (euros) | 6.68 | 7.56 | (11.6) |
| Market capitalization (million euros) | 32,753 | 33,951 | (3.5) |
| Net attributable profit per share (euros) (1) | 0.64 | 1.14 | (44.1) |
| Book value per share (euros) | 8.35 | 8.17 | 2.2 |
| P/BV (Price/book value; times) | 0.8 | 0.9 | (13.5) |
| PER (Price/earnings; times) | 10.9 | 7.4 | 47.9 |
| Dividend yield (Dividend/Price; %) | 6.3 | 5.6 | 12.3 |
| Significant ratios |
|
|
|
| ROE (Net attributable profit/average equity) | 8.0 | 15.8 | (49.7) |
| ROA (Net income/average total assets) | 0.61 | 0.89 | (31.4) |
| RORWA (Net income/average risk-weighted assets) | 1.08 | 1.64 | (34.0) |
| Efficiency ratio | 48.4 | 42.9 | 12.8 |
| Risk premiun | 1.20 | 1.33 | (10.4) |
| NPA Ratio | 4.0 | 4.1 | (3.0) |
| NPA Coverage ratio | 61 | 62 | (0.8) |
| Capital adecuacy ratios |
|
|
|
| BIS Ratio | 12.9 | 13.7 | (5.7) |
| Core capital | 10.3 | 9.6 | 7.2 |
| Tier I | 10.3 | 10.5 | (2.1) |
| Other information |
|
|
|
| Number of shares (millions) | 4,903 | 4,491 | 9.2 |
| Number of shareholders | 987,277 | 952,618 | 3.6 |
| Number of employees (2) | 110,645 | 106,976 | 3.4 |
| Number of branches (2) | 7,457 | 7,361 | 1.3 |
| Number of ATMs (2) | 18,794 | 17,055 | 10.2 |