BBVA in 2012

Gross income

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Positive performance in income from fees and commissions, which totaled €4,353m, an increase of 8.0% on the figure for 2011. This result is underpinned by expanding activity in emerging economies and also the incorporation of Garanti. It is worth noting that this good result came despite new regulatory limitations in some geographical areas and the economic weakness in developed countries.

Net fees and commissions

(Million euros)

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2012 Δ% 2011 2010
Mutual funds, pension funds and customer portfolios 529 1.2 522 551
Banking services 3,825 9.0 3,509 3,482
Collection and payment services 1,097 8.4 1,012 1,059
Credit and debit cards 1,155 14.3 1,010 935
Securities 583 7.6 542 551
Contingent liabilities and back-up lines 538 14.3 471 410
Other fees and commissions 451 (4.8) 474 528
Net fees and commissions 4,353 8.0 4,031 4,034

NTI for the twelve months of 2012 amounted to €1,767m, up 19.3% year-on-year, due mainly to the inclusion of capital gains from buybacks of securitization bonds and subordinated debt in the second and fourth quarters, respectively.

Revenue from dividends amounted to €390m, 30.6% down on the figure posted 12 months earlier. This heading basically includes the remuneration from the Group’s stake in Telefónica (temporarily suspended until November 2013) and, to a lesser extent, the dividends collected in the Global Markets area.

Income by the equity method which, basically, includes BBVA’s stake in CNCB, amounts to a total of €727m, 22.1% up on the figure for the same period in 2011.

Other operating income and expenses amounted to €82m. This heading has benefited from the positive performance of the insurance business. However, as it also includes the increased allocations to the deposit guarantee funds, especially in Spain, it declined 60.3% over the last twelve months.

Finally, gross income, which has been growing quarter to quarter, stood at €22,441m in 2012, up 12.1% year-on-year. Without taking into account the less recurrent items from NTI and dividends, this figure would be €20,284m, up 12.8% over the same period.

5. BBVA Group. Gross income net of NTI and dividends

(Million euros)

(1) At constant exchange rates: +9.4%.
6 BBVA Group. Gross income

(Million euros)

(1) At constant exchange rates: +8.7%.