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Financial Report 2011

“In 2011 BBVA once more demonstrated a great capacity for generating earnings that are both recurrent and sustainable, thanks to a strategy based on diversification, prudent risk management and a proactive vision of technology and innovation.”

Francisco González, Chairman and CEO

Letter from the Chairman

Gross income

20,566

(million euros)

Net attributable profit

4,015

(million euros,
ex one-offs)

Core capital

34,161

(million euros)

Efficiency ratio

48.4%

EPS

0.85

(euros per share,
ex one-offs)

Core capital ratio

10.3%

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