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The United States

Income statement

(Million euros at constant exchange rate)

The United States 2011 Growth 12M11/12M10
Absolute Percentage
Net interest income 1,590 (128) (7.4)
Gross income 2,277 (170) (7.0)
Operating income 786 (210) (21.1)
Income before tax 383 81 27.0
Net attributable profit (1) 289 54 23.2
(1) Excluding one-offs.
1. Selective growth of business activity
The United States. New production in the main loan portfolios. Year-on-year change

(Percentage at constant exchange rate)

The United States. Customer funds on retail balance sheet. Year-on-year change

(Percentage at constant exchange rate)

2. Good price management
BBVA Compass Banking Group. Customer spread

(Percentage)

3. Resilient net interest income despite an adverse yield curve
The United States. Net interest income

(Million euros at constant exchange rate)

4. Risk levels continue to improve
The United States. Loan-loss provisions

(Million euros at constant exchange rate)

The United States. NPA and coverage ratios

(Percentage)

In summary, earnings reflect the transformation of the business model
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