BBVA in 2012

Group financial information

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BBVA has completed a hugely difficult and demanding year 2012 with:

1. High generation of recurrent revenue and a large contribution from net trading income (NTI).

2. This has enabled BBVA to absorb a significant increase in provisions in Spain to cover the gradual impairment in real-estate portfolios and assets.

3. In terms of solvency, the Bank improved core capital ratio under Basel II compared with the figure at the close of the previous year and it continues to comply with the recommendations of the European Banking Authority (EBA).

4. Very good news from the standpoint of liquidity, with positive performance in retail customer deposits in Spain particularly noteworthy.

5 In activity, key points are the buoyant lending in emerging economies and the necessary deleveraging of the Spanish economy. By segments, BBVA continues to grow mainly in retail portfolios and deposits.

6. In the second quarter of 2012, BBVA announced it was starting a process to study strategic alternatives for its pension business in Latin America. On December 24, 2012 BBVA signed a sale agreement for the stake in its subsidiary in Colombia, on January 9, 2013 it closed the sale of the Afore in Mexico and on February 1 it signed another sale agreement for the stake in its subsidiary in Chile. The earnings from this business in the region are therefore classified as discontinued operations. The historical series have also been reconstructed to ensure they are comparable.

7. On July 27, 2012, 4 was incorporated into the Group’s financial statements.

8. In addition, on December 16, the sale of BBVA Puerto Rico was closed.

9. Finally, as regards shareholder remuneration, BBVA is maintaining the current dividend policy.