The following data stand out from Grupo BBVA’s results in the first half of 2012:

• In terms of solvency, BBVA comfortably passed Oliver Wyman’s stress test and continues to comply with the capital recommendations of the European Banking Authority (EBA).
• Positive performance of recurring revenue in all geographical regions.
• This has enabled the Group to absorb again a significant increase in its loan-loss provisions in Spain, in order to cover the ongoing impairment of its real estate portfolios and assets.
• The Group continues to strengthen its liquidity position through comprehensive management in each of the geographical areas where it operates, while improving its financing structure.
• The Unnim consolidation on July 27.
• Maintenance of the current dividend policy.

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