Appendix

APPENDIX I Additional information on consolidated subsidiaries and consolidated structured entities composing the BBVA Group

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
4D INTERNET SOLUTIONS, INC	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	23	24	1	26	(3)
ACTIVOS MACORP, S.L. (**)	SPAIN	REAL ESTATE	50.63	49.37	100.00	2	90	87	2	2
ALCALA 120 PROMOC. Y GEST.IMMOB. S.L.	SPAIN	REAL ESTATE	-	100.00	100.00	14	23	9	14	-
ALGARVETUR, S.L. (**)(***)	SPAIN	REAL ESTATE	-	100.00	100.00	-	19	41	(21)	(1)
AMERICAN FINANCE GROUP, INC.	UNITED STATES	INACTIVE	-	100.00	100.00	20	20	-	20	-
ANIDA DESARROLLOS INMOBILIARIOS, S.L.	SPAIN	REAL ESTATE	-	100.00	100.00	49	467	411	65	(10)
ANIDA GERMANIA IMMOBILIEN ONE, GMBH	GERMANY	IN LIQUIDATION	-	100.00	100.00	-	1	-	1	-
ANIDA GRUPO INMOBILIARIO, S.L. (**)	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	-	1,507	1,656	244	(393)
ANIDA INMOBILIARIA, S.A. DE C.V.	MEXICO	INVESTMENT COMPANY	-	100.00	100.00	166	119	-	116	3
ANIDA OPERACIONES SINGULARES, S.A. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	(105)	4,097	4,195	241	(339)
ANIDA PROYECTOS INMOBILIARIOS, S.A. DE C.V.	MEXICO	REAL ESTATE	-	100.00	100.00	94	107	14	85	9
ANIDAPORT INVESTIMENTOS IMOBILIARIOS, UNIPESSOAL, LTDA	PORTUGAL	REAL ESTATE	-	100.00	100.00	31	103	96	12	(5)
APLICA SOLUCIONES TECNOLOGICAS CHILE LIMITADA	CHILE	SERVICES	-	100.00	100.00	-	-	-	-	-
APLICA TECNOLOGIA AVANZADA OPERADORA, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	4	14	9	-	4
APLICA TECNOLOGIA AVANZADA SERVICIOS, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	1	3	2	-	-
APLICA TECNOLOGIA AVANZADA, S.A. DE C.V.- ATA	MEXICO	SERVICES	100.00	-	100.00	203	340	137	194	9
AREA TRES PROCAM, S.L. (***)	SPAIN	REAL ESTATE	-	100.00	100.00	-	5	5	-	-
ARIZONA FINANCIAL PRODUCTS, INC	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	928	928	-	928	-
ARRAHONA AMBIT, S.L. (*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	66	103	(31)	(5)
ARRAHONA IMMO, S.L.	SPAIN	REAL ESTATE	-	100.00	100.00	53	234	101	103	30
ARRAHONA NEXUS, S.L. (*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	213	322	(110)	2
ARRAHONA RENT, S.L.U.	SPAIN	REAL ESTATE	-	100.00	100.00	9	9	-	10	(1)
ARRELS CT FINSOL, S.A. (*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	278	368	(76)	(15)
ARRELS CT LLOGUER, S.A. (*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	48	61	(6)	(6)
ARRELS CT PATRIMONI I PROJECTES, S.A. (*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	121	157	(33)	(3)
ARRELS CT PROMOU, S.A. (*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	38	50	(10)	(2)
AUMERAVILLA, S.L.	SPAIN	REAL ESTATE	-	100.00	100.00	2	2	-	2	-
BAHIA SUR RESORT, S.C.	SPAIN	INACTIVE	99.95	-	99.95	1	1	-	1	-
BANCO BILBAO VIZCAYA ARGENTARIA (PORTUGAL), S.A.	PORTUGAL	BANKING	100.00	-	100.00	230	4,028	3,808	218	2
BANCO BILBAO VIZCAYA ARGENTARIA CHILE, S.A.	CHILE	BANKING	-	68.19	68.19	827	19,508	18,295	1,106	107
BANCO BILBAO VIZCAYA ARGENTARIA URUGUAY, S.A.	URUGUAY	BANKING	100.00	-	100.00	110	3,051	2,861	193	(4)
BANCO CONTINENTAL, S.A.	PERU	BANKING	-	46.12	46.12	913	22,269	20,290	1,621	358
BANCO DE PROMOCION DE NEGOCIOS, S.A.	SPAIN	BANKING	-	99.86	99.86	15	19	-	19	-
BANCO INDUSTRIAL DE BILBAO, S.A.	SPAIN	BANKING	-	99.93	99.93	97	139	2	112	24
BANCO OCCIDENTAL, S.A.	SPAIN	BANKING	49.43	50.57	100.00	17	18	-	18	-
BANCO PROVINCIAL OVERSEAS N.V.	CURACAO	BANKING	-	100.00	100.00	52	435	383	50	2
BANCO PROVINCIAL S.A. - BANCO UNIVERSAL	VENEZUELA	BANKING	1.46	53.75	55.21	80	917	814	138	(35)
BANCOMER FINANCIAL SERVICES INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	2	3	-	2	-
BANCOMER FOREIGN EXCHANGE INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	10	10	-	6	4
4D INTERNET SOLUTIONS, INC	UNITED STATES	FINANCIAL SERVICES	19.69	69.95	89.65	4	1322	46	146	6

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• (*) Information on foreign companies at exchange rate on December 31, 2016
• (**) These companies have equity loans from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
• (***) These companies have equity loans from CATALUNYACAIXA IMMOBILIARIA, S.A.
• (****) This company has an equity loan from ANIDA GRUPO INMOBILIARIO, S.L.
• (*****) These companies have an equity loan from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A

Additional Information on Consolidated Subsidiaries and strucuted entities composing the BBVA Group (Continued)

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
BANCOMER TRANSFER SERVICES, INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	49	101	52	37	13
BBV AMERICA, S.L.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	479	991	-	981	10
BBVA ASESORIAS FINANCIERAS, S.A.	CHILE	FINANCIAL SERVICES	-	100.00	100.00	2	3	1	1	1
BBVA ASSET MANAGEMENT ADMINISTRADORA GENERAL DE FONDOS S.A.	CHILE	FINANCIAL SERVICES	-	100.00	100.00	15	18	3	9	6
BBVA ASSET MANAGEMENT CONTINENTAL S.A. SAF	PERU	FINANCIAL SERVICES	-	100.00	100.00	15	17	2	12	3
BBVA ASSET MANAGEMENT, S.A. SOCIEDAD FIDUCIARIA (BBVA FIDUCIARIA)	COLOMBIA	FINANCIAL SERVICES	-	100.00	100.00	30	33	3	25	6
BBVA ASSET MANAGEMENT, S.A., SGIIC	SPAIN	OTHER INVESTMENT COMPANIES	17.00	83.00	100.00	38	154	84	36	35
BBVA AUTOMERCANTIL, COMERCIO E ALUGER DE VEICULOS AUTOMOVEIS,LDA.	PORTUGAL	FINANCIAL SERVICES	100.00	-	100.00	5	18	13	5	-
BBVA AUTORENTING, S.A.	SPAIN	SERVICES	100.00	-	100.00	69	447	402	33	12
BBVA BANCO FRANCES, S.A.	ARGENTINA	BANKING	45.61	30.34	75.95	157	9,008	8,016	769	223
BBVA BANCOMER GESTION, S.A. DE C.V.	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	21	36	15	8	13
BBVA BANCOMER OPERADORA, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	135	384	249	49	86
BBVA BANCOMER SEGUROS SALUD, S.A. DE C.V.	MEXICO	INSURANCES SERVICES	-	100.00	100.00	20	26	7	18	2
BBVA BANCOMER SERVICIOS ADMINISTRATIVOS, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	25	130	105	20	5
BBVA BANCOMER, S.A.,INSTITUCION DE BANCA MULTIPLE, GRUPO FINANCIERO BBVA BANCOMER	MEXICO	BANKING	-	100.00	100.00	7,301	86,242	78,939	5,691	1,612
BBVA BRASIL BANCO DE INVESTIMENTO, S.A.	BRASIL	BANKING	100.00	-	100.00	16	39	7	32	1
BBVA BROKER, CORREDURIA DE SEGUROS Y REASEGUROS, S.A.	SPAIN	FINANCIAL SERVICES	99.94	0.06	100.00	-	18	5	8	5
BBVA BROKER, S.A.	ARGENTINA	INSURANCES SERVICES	-	95.00	95.00	-	-	-	-	-
BBVA COLOMBIA, S.A.	COLOMBIA	BANKING	77.41	18.06	95.47	355	16,391	15,049	1,168	174
BBVA COMERCIALIZADORA LTDA.	CHILE	FINANCIAL SERVICES	-	100.00	100.00	-	1	2	4	(4)
BBVA COMPASS BANCSHARES, INC	UNITED STATES	INVESTMENT COMPANY	100.00	-	100.00	11,703	12,197	128	11,735	334
BBVA COMPASS FINANCIAL CORPORATION	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	250	621	371	247	2
BBVA COMPASS INSURANCE AGENCY, INC	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	166	170	3	159	7
BBVA COMPASS PAYMENTS, INC	UNITED STATES	INVESTMENT COMPANY	-	100.00	100.00	63	63	-	46	17
BBVA CONSOLIDAR SEGUROS, S.A.	ARGENTINA	INSURANCES SERVICES	87.78	12.22	100.00	11	154	100	16	38
BBVA CONSULTING ( BEIJING) LIMITED	CHINA	FINANCIAL SERVICES	-	100.00	100.00	-	2	-	2	-
BBVA CONSULTORIA, S.A.	SPAIN	SERVICES	-	100.00	100.00	4	5	-	5	-
BBVA CONSUMER FINANCE ENTIDAD DE DESARROLLO A LA PEQUEÑA Y MICRO EMPRESA, EDPYME, S.A. (BBVA CONSUMER FINANCE - EDPYME)	PERU	FINANCIAL SERVICES	-	100.00	100.00	17	97	81	18	(2)
BBVA CORREDORA TECNICA DE SEGUROS LIMITADA	CHILE	FINANCIAL SERVICES	-	100.00	100.00	8	13	5	1	7
BBVA CORREDORES DE BOLSA LIMITADA	CHILE	SECURITIES DEALER	-	100.00	100.00	62	562	500	72	(10)
BBVA DATA & ANALYTICS, S.L.	SPAIN	SERVICES	-	100.00	100.00	6	4	2	1	1
BBVA DINERO EXPRESS, S.A.U	SPAIN	FINANCIAL SERVICES	100.00	-	100.00	2	6	2	4	-
BBVA DISTRIBUIDORA DE SEGUROS S.R.L.	URUGUAY	FINANCIAL SERVICES	-	100.00	100.00	4	4	-	2	2
BBVA EMISORA, S.A.	SPAIN	FINANCIAL SERVICES	-	100.00	100.00	64	75	-	75	-
BBVA FACTORING LIMITADA (CHILE)	CHILE	FINANCIAL SERVICES	-	100.00	100.00	10	50	40	10	-
BBVA FINANZIA, S.p.A	ITALIA	FINANCIAL SERVICES	100.00	-	100.00	6	21	14	15	(9)
BBVA FRANCES ASSET MANAGMENT S.A. SOCIEDAD GERENTE DE FONDOS COMUNES DE INVERSIÓN.	ARGENTINA	FINANCIAL SERVICES	-	100.00	100.00	11	20	6	7	7
BBVA FRANCES VALORES, S.A.	ARGENTINA	SECURITIES DEALER	-	100.00	100.00	6	6	-	3	3
BBVA FUNDOS, S.GESTORA FUNDOS PENSOES,S.A.	PORTUGAL	PENSION FUNDS MANAGEMENT	-	100.00	100.00	1	18	1	15	2
BBVA GLOBAL FINANCE LTD.	CAYMAN ISLANDS	FINANCIAL SERVICES	100.00	-	100.00	-	194	189	5	-

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• (*) Information on foreign companies at exchange rate on December 31, 2016

Additional Information on Consolidated Subsidiaries and strucuted entities composing the BBVA Group (Continued)

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
BBVA GLOBAL MARKETS B.V.	NETHERLANDS	FINANCIAL SERVICES	100.00	-	100.00	-	1,442	1,442	-	-
BBVA INMOBILIARIA E INVERSIONES, S.A.	CHILE	REAL ESTATE	-	68.11	68.11	5	47	40	7	-
BBVA INSTITUIÇAO FINANCEIRA DE CREDITO, S.A.	PORTUGAL	FINANCIAL SERVICES	49.90	50.10	100.00	40	298	251	45	3
BBVA INTERNATIONAL PREFERRED, S.A.U.	SPAIN	FINANCIAL SERVICES	100.00	-	100.00	-	864	863	1	-
BBVA INVERSIONES CHILE, S.A.	CHILE	INVESTMENT COMPANY	61.22	38.78	100.00	483	1,640	2	1,507	131
BBVA IRELAND PLC	IRELAND	FINANCIAL SERVICES	100.00	-	100.00	180	407	217	186	4
BBVA LEASIMO - SOCIEDADE DE LOCAÇAO FINANCEIRA, S.A.	PORTUGAL	FINANCIAL SERVICES	-	100.00	100.00	8	9	-	8	-
BBVA LUXINVEST, S.A.	LUXEMBOURG	INVESTMENT COMPANY	36.00	64.00	100.00	204	213	2	210	1
BBVA MEDIACION OPERADOR DE BANCA-SEGUROS VINCULADO, S.A.	SPAIN	FINANCIAL SERVICES	-	100.00	100.00	10	203	180	13	11
BBVA NOMINEES LIMITED	UNITED KINGDOM	SERVICES	100.00	-	100.00	-	-	-	-	-
BBVA OP3N S.L.	SPAIN	SERVICES	-	100.00	100.00	-	-	-	-	-
BBVA OP3N, INC	UNITED STATES	SERVICES	-	100.00	100.00	-	-	-	-	-
BBVA PARAGUAY, S.A.	PARAGUAY	BANKING	100.00	-	100.00	23	1,788	1,627	136	25
BBVA PARTICIPACIONES MEJICANAS, S.L.	SPAIN	INVESTMENT COMPANY	99.00	1.00	100.00	-	-	-	-	-
BBVA PENSIONES, SA, ENTIDAD GESTORA DE FONDOS DE PENSIONES	SPAIN	PENSION FUNDS MANAGEMENT	100.00	-	100.00	13	67	32	28	7
BBVA PLANIFICACION PATRIMONIAL, S.L.	SPAIN	FINANCIAL SERVICES	80.00	20.00	100.00	-	1	-	1	-
BBVA PREVISION AFP S.A. ADM.DE FONDOS DE PENSIONES	BOLIVIA	PENSION FUNDS MANAGEMENT	75.00	5.00	80.00	2	23	13	6	5
BBVA PROCUREMENT SERVICES AMERICA DEL SUR SpA	CHILE	SERVICES	-	100.00	100.00	6	9	3	6	-
BBVA PROPIEDAD, S.A.	SPAIN	REAL ESTATE INVESTMENT COMPANY	-	100.00	100.00	914	927	10	984	(67)
BBVA RE DAC	IRELAND	INSURANCES SERVICES	-	100.00	100.00	39	76	36	30	9
BBVA REAL ESTATE MEXICO, S.A. DE C.V.	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	-	-	1	-	-
BBVA RENTAS E INVERSIONES LIMITADA	CHILE	INVESTMENT COMPANY	-	100.00	100.00	292	292	-	232	60
BBVA RENTING, S.A.	SPAIN	FINANCIAL SERVICES	5.94	94.06	100.00	21	650	556	85	9
BBVA SECURITIES INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	185	2,932	2,747	187	(1)
BBVA SEGUROS COLOMBIA, S.A.	COLOMBIA	INSURANCES SERVICES	94.00	6.00	100.00	10	83	64	14	4
BBVA SEGUROS DE VIDA COLOMBIA, S.A.	COLOMBIA	INSURANCES SERVICES	94.00	6.00	100.00	14	430	319	75	36
BBVA SEGUROS DE VIDA, S.A.	CHILE	INSURANCES SERVICES	-	100.00	100.00	70	227	156	65	5
BBVA SEGUROS GENERALES S.A.	CHILE	INSURANCES SERVICES	-	100.00	100.00	4	4	-	4	-
BBVA SEGUROS, S.A., DE SEGUROS Y REASEGUROS	SPAIN	INSURANCES SERVICES	99.95	-	99.95	682	16,797	15,297	1,239	260
BBVA SENIOR FINANCE, S.A.U.	SPAIN	FINANCIAL SERVICES	100.00	-	100.00	-	7,090	7,089	1	-
BBVA SERVICIOS CORPORATIVOS LIMITADA	CHILE	SERVICES	-	100.00	100.00	-	6	6	1	(1)
BBVA SERVICIOS, S.A.	SPAIN	COMMERCIAL	-	100.00	100.00	-	9	1	7	1
BBVA SOCIEDAD DE LEASING INMOBILIARIO, S.A.	CHILE	FINANCIAL SERVICES	-	97.49	97.49	27	89	62	25	3
BBVA SUBORDINATED CAPITAL S.A.U.	SPAIN	FINANCIAL SERVICES	100.00	-	100.00	-	1,770	1,769	1	-
BBVA SUIZA, S.A. (BBVA SWITZERLAND)	SWITZERLAND	BANKING	39.72	60.28	100.00	67	1,316	1,143	163	10
BBVA TRADE, S.A.	SPAIN	INVESTMENT COMPANY	-	100.00	100.00	13	36	23	13	-
BBVA U.S. SENIOR S.A.U.	SPAIN	FINANCIAL SERVICES	100.00	-	100.00	-	1	-	-	-
BBVA VALORES COLOMBIA, S.A. COMISIONISTA DE BOLSA	COLOMBIA	SECURITIES DEALER	-	100.00	100.00	4	5	1	4	-
BBVA WEALTH SOLUTIONS, INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	6	6	-	5	-
BEEVA TEC OPERADORA, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	-	1	1	-	-

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• (*) Information on foreign companies at exchange rate on December 31, 2016

Additional Information on Consolidated Subsidiaries and strucuted entities composing the BBVA Group (Continued)

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
BEEVA TEC, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	1	4	2	1	-
BETESE S.A DE C.V.	MEXICO	INVESTMENT COMPANY	-	100.00	100.00	61	61	-	53	7
BILBAO VIZCAYA HOLDING, S.A.	SPAIN	INVESTMENT COMPANY	89.00	11.00	100.00	35	236	36	135	66
BLUE INDICO INVESTMENTS, S.L.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	7	25	18	7	(1)
CAIXA MANRESA IMMOBILIARIA ON CASA, S.L. (**)	SPAIN	REAL ESTATE	100.00	-	100.00	-	2	5	(2)	-
CAIXA MANRESA IMMOBILIARIA SOCIAL, S.L. (**)	SPAIN	REAL ESTATE	100.00	-	100.00	-	4	4	1	-
CAIXA TERRASSA SOCIETAT DE PARTICIPACIONS PREFERENTS, S.A.U.	SPAIN	FINANCIAL SERVICES	100.00	-	100.00	1	76	74	2	-
CAIXASABADELL PREFERENTS, S.A.	SPAIN	FINANCIAL SERVICES	100.00	-	100.00	-	92	90	1	-
CAIXASABADELL TINELIA, S.L.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	41	41	-	41	-
CAPITAL INVESTMENT COUNSEL, INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	14	14	-	14	-
CARTERA E INVERSIONES S.A., CIA DE	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	92	108	78	21	9
CASA DE BOLSA BBVA BANCOMER, S.A. DE C.V.	MEXICO	SECURITIES DEALER	-	100.00	100.00	35	46	11	17	17
CATALONIA GEBIRA, S.L. (***)(****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	4	8	(3)	(1)
CATALONIA PROMODIS 4, S.A. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	9	14	(2)	(2)
CATALUNYACAIXA ASSEGURANCES GENERALS, S.A.	SPAIN	INSURANCES SERVICES	100.00	-	100.00	42	47	25	17	5
CATALUNYACAIXA CAPITAL, S.A.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	101	106	10	95	1
CATALUNYACAIXA IMMOBILIARIA, S.A. (*****)	SPAIN	REAL ESTATE	100.00	-	100.00	125	198	121	46	31
CATALUNYACAIXA SERVEIS, S.A.	SPAIN	SERVICES	100.00	-	100.00	2	10	7	2	1
CATALUNYACAIXA VIDA, S.A.	SPAIN	INSURANCES SERVICES	100.00	-	100.00	358	2,409	2,014	351	43
CB TRANSPORT ,INC.	UNITED STATES	INACTIVE	-	100.00	100.00	18	18	-	18	-
CDD GESTIONI, S.R.L.	ITALIA	REAL ESTATE	100.00	-	100.00	5	6	-	6	-
CETACTIUS, S.L. (**)	SPAIN	REAL ESTATE	100.00	-	100.00	-	2	22	(19)	(1)
CIDESSA DOS, S.L.	SPAIN	INVESTMENT COMPANY	-	100.00	100.00	15	15	1	14	-
CIDESSA UNO, S.L.	SPAIN	INVESTMENT COMPANY	-	100.00	100.00	5	240	150	67	24
CIERVANA, S.L.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	53	64	4	55	5
CLUB GOLF HACIENDA EL ALAMO, S.L.	SPAIN	REAL ESTATE	-	97.87	97.87	-	-	-	-	-
COMERCIALIZADORA CORPORATIVA SAC	PERU	FINANCIAL SERVICES	-	50.00	50.00	-	1	1	-	-
COMERCIALIZADORA DE SERVICIOS FINANCIEROS, S.A.	COLOMBIA	SERVICES	-	100.00	100.00	2	9	7	1	-
COMPASS ASSET ACCEPTANCE COMPANY, LLC	UNITED STATES	INACTIVE	-	100.00	100.00	463	463	-	463	-
COMPASS AUTO RECEIVABLES CORPORATION	UNITED STATES	INACTIVE	-	100.00	100.00	4	4	-	4	-
COMPASS BANK	UNITED STATES	BANKING	-	100.00	100.00	11,475	86,188	74,713	11,149	327
COMPASS CAPITAL MARKETS, INC.	UNITED STATES	INVESTMENT COMPANY	-	100.00	100.00	7,657	7,657	-	7,587	70
COMPASS CUSTODIAL SERVICES, INC.	UNITED STATES	INACTIVE	-	100.00	100.00	-	-	-	-	-
COMPASS GP, INC.	UNITED STATES	INVESTMENT COMPANY	-	100.00	100.00	46	58	11	46	-
COMPASS INVESTMENTS, INC.	UNITED STATES	INACTIVE	-	100.00	100.00	-	-	-	-	-
COMPASS LIMITED PARTNER, INC.	UNITED STATES	INVESTMENT COMPANY	-	100.00	100.00	6,683	6,684	1	6,613	69
COMPASS LOAN HOLDINGS TRS, INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	77	77	-	76	-
COMPASS MORTGAGE CORPORATION	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	2,969	3,006	37	2,921	49

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• (*) Information on foreign companies at exchange rate on December 31, 2016
• (**) These companies have an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
• (***) This company has an equity loan from ARRELS CT PATRIMONI I PROYECTES, S.A.
• (****) These companies have an equity loan from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A.

Additional Information on Consolidated Subsidiaries and strucuted entities composing the BBVA Group (Continued)

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
COMPASS MORTGAGE FINANCING, INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	-	-	-	-	-
COMPASS MULTISTATE SERVICES CORPORATION	UNITED STATES	INACTIVE	-	100.00	100.00	4	4	-	4	-
COMPASS SOUTHWEST, LP	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	5,515	5,515	-	5,455	61
COMPASS TEXAS ACQUISITION CORPORATION	UNITED STATES	INACTIVE	-	100.00	100.00	2	2	-	2	-
COMPASS TEXAS MORTGAGE FINANCING, INC	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	-	-	-	-	-
COMPASS TRUST II	UNITED STATES	INACTIVE	-	100.00	100.00	-	-	-	-	-
COMPAÑIA CHILENA DE INVERSIONES, S.L.	SPAIN	INVESTMENT COMPANY	99.97	0.03	100.00	580	781	-	781	-
COMPLEMENTOS INNOVACIÓN Y MODA, S.L.	SPAIN	IN LIQUIDATION	-	100.00	100.00	-	-	-	-	-
CONJUNT RESIDENCIAL FREIXA, S.L. (**)	SPAIN	REAL ESTATE	-	100.00	100.00	-	2	3	(1)	-
CONSOLIDAR A.F.J.P., S.A.	ARGENTINA	IN LIQUIDATION	46.11	53.89	100.00	-	3	2	1	(1)
CONSORCIO DE CASAS MEXICANAS, S.A.P.I. DE C.V.	MEXICO	REAL ESTATE	-	99.99	99.99	3	16	12	4	(1)
CONTENTS AREA, S.L.	SPAIN	SERVICES	-	100.00	100.00	6	7	1	6	-
CONTINENTAL BOLSA, SDAD. AGENTE DE BOLSA, S.A.	PERU	SECURITIES DEALER	-	100.00	100.00	6	11	5	5	1
CONTINENTAL DPR FINANCE COMPANY	CAYMAN ISLANDS	FINANCIAL SERVICES	-	100.00	100.00	-	136	136	-	-
CONTINENTAL SOCIEDAD TITULIZADORA, S.A.	PERU	FINANCIAL SERVICES	-	100.00	100.00	1	1	-	1	-
CONTRATACION DE PERSONAL, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	5	8	3	4	-
COPROMED S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	-	-	-	-	-
CORPORACION BETICA INMOBILIARIA, S.A. (***)(*****)	SPAIN	REAL ESTATE	-	100.00	100.00	4	20	15	5	(1)
CORPORACION GENERAL FINANCIERA, S.A.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	510	1,578	-	1,556	22
CX PROPIETAT, FII	SPAIN	REAL ESTATE INVESTMENT COMPANY	67.94	-	67.94	35	61	-	62	(1)
DALLAS CREATION CENTER, INC	UNITED STATES	SERVICES	-	100.00	100.00	-	7	7	2	(1)
DATA ARCHITECTURE AND TECHNOLOGY S.L.	SPAIN	SERVICES	-	51.00	51.00	-	2	1	-	-
DESITEL TECNOLOGIA Y SISTEMAS, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	1	1	-	1	-
DEUTSCHE BANK MEXICO SA FIDEICOMISO F/1859	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	-	16	16	-	-
DEUTSCHE BANK MEXICO SA FIDEICOMISO F/1860	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	-	16	16	-	-
DISTRITO CASTELLANA NORTE, S.A.	SPAIN	REAL ESTATE	-	75.54	75.54	82	123	15	110	(2)
ECASA, S.A.	CHILE	FINANCIAL SERVICES	-	100.00	100.00	17	19	2	11	6
EL ENCINAR METROPOLITANO, S.A.	SPAIN	REAL ESTATE	-	99.05	99.05	6	7	-	6	-
EL MILANILLO, S.A. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	8	8	1	7	-
EMPRENDIMIENTOS DE VALOR S.A.	URUGUAY	FINANCIAL SERVICES	-	100.00	100.00	3	7	4	3	-
ENTRE2 SERVICIOS FINANCIEROS, E.F.C., S.A.	SPAIN	FINANCIAL SERVICES	100.00	-	100.00	9	9	-	9	-
ESPAIS CERDANYOLA, S.L. (*****)	SPAIN	REAL ESTATE	-	97.51	97.51	-	12	15	(3)	-
ESPAIS SABADELL PROMOCIONS INMOBILIARIES, S.A.	SPAIN	REAL ESTATE	-	100.00	100.00	7	8	-	8	-
ESPANHOLA COMERCIAL E SERVIÇOS, LTDA.	BRASIL	IN LIQUIDATION	100.00	-	100.00	-	-	-	-	-
ESTACION DE AUTOBUSES CHAMARTIN, S.A.	SPAIN	SERVICES	-	51.00	51.00	-	-	-	-	-
EUROPEA DE TITULIZACION, S.A., S.G.F.T.	SPAIN	FINANCIAL SERVICES	87.86	-	87.86	2	41	3	36	3
EXPANSION INTERCOMARCAL, S.L.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	26	27	-	26	-
F/253863 EL DESEO RESIDENCIAL	MEXICO	REAL ESTATE	-	65.00	65.00	-	1	-	1	-
F/403035-9 BBVA HORIZONTES RESIDENCIAL	MEXICO	REAL ESTATE	-	65.00	65.00	-	-	-	-	-
FACILEASING EQUIPMENT, S.A. DE C.V.	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	51	411	301	90	21

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• (*) Information on foreign companies at exchange rate on December 31, 2016
• (**) This company has an equity loan from EXPANSION INTERCOMARCAL, S.L.
• (***) This company has an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
• (****) This company has an equity loan from ANIDA OPERACIONES SINGULARES, S.A.
• (*****) These companies have equity loans from CATALUNYACAIXA IMMOBILIARIA, S.A.

Additional Information on Consolidated Subsidiaries and strucuted entities composing the BBVA Group (Continued)

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
FACILEASING S.A. DE C.V.	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	92	730	646	68	16
FIDEICOMISO 28991-8 TRADING EN LOS MCADOS FINANCIEROS	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	3	3	-	2	-
FIDEICOMISO F/29764-8 SOCIO LIQUIDADOR DE OPERACIONES FINANCIERAS DERIVADAS	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	45	45	-	43	2
FIDEICOMISO F/403112-6 DE ADMINISTRACION DOS LAGOS	MEXICO	REAL ESTATE	-	100.00	100.00	7	7	-	7	-
FIDEICOMISO HARES BBVA BANCOMER F/ 47997-2	MEXICO	REAL ESTATE	-	100.00	100.00	14	15	1	13	1
FIDEICOMISO LOTE 6,1 ZARAGOZA	COLOMBIA	REAL ESTATE	-	59.99	59.99	1	2	-	2	-
FIDEICOMISO N,989, EN THE BANK OF NEW YORK MELLON, S.A. INSTITUCION DE BANCA MULTIPLE, FIDUCIARIO (FIDEIC,00989 6 EMISION)	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	-	115	115	(5)	5
FIDEICOMISO Nº 711, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 1ª EMISION)	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	-	25	25	-	(1)
FIDEICOMISO Nº 752, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 2ª EMISION)	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	-	13	13	-	-
FIDEICOMISO Nº 847, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 4ª EMISION)	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	-	67	67	(1)	-
FIDEICOMISO SCOTIABANK INVERLAT S A F100322908	MEXICO	REAL ESTATE	-	100.00	100.00	5	12	8	5	-
FINANCEIRA DO COMERCIO EXTERIOR S.A.R.	PORTUGAL	INACTIVE	100.00	-	100.00	-	-	-	-	-
FINANCIERA AYUDAMOS S.A. DE C.V., SOFOMER	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	107	109	2	92	15
FODECOR, S.L.	SPAIN	REAL ESTATE	-	60.00	60.00	-	-	1	(1)	-
FORUM COMERCIALIZADORA DEL PERU, S.A.	PERU	SERVICES	-	100.00	100.00	2	1	-	2	(2)
FORUM DISTRIBUIDORA DEL PERU, S.A.	PERU	FINANCIAL SERVICES	-	100.00	100.00	8	25	17	8	-
FORUM DISTRIBUIDORA, S.A.	CHILE	FINANCIAL SERVICES	-	100.00	100.00	33	251	219	27	5
FORUM SERVICIOS FINANCIEROS, S.A.	CHILE	FINANCIAL SERVICES	-	100.00	100.00	213	1,599	1,400	144	55
FUTURO FAMILIAR, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	1	3	2	1	-
G NETHERLANDS BV	NETHERLANDS	INVESTMENT COMPANY	-	100.00	100.00	340	357	48	302	7
GARANTI BANK SA	ROMANIA	BANKING	-	100.00	100.00	276	1,983	1,732	253	(2)
GARANTI BILISIM TEKNOLOJISI VE TIC. TAS	TURKEY	SERVICES	-	100.00	100.00	28	20	3	16	1
GARANTI DIVERSIFIED PAYMENT RIGHTS FINANCE COMPANY	CAYMAN ISLANDS	FINANCIAL SERVICES	-	100.00	100.00	-	3,417	3,417	-	-
GARANTI EMEKLILIK VE HAYAT AS	TURKEY	INSURANCES SERVICES	-	84.91	84.91	303	491	137	281	74
GARANTI FACTORING HIZMETLERI AS	TURKEY	FINANCIAL SERVICES	-	81.84	81.84	41	781	731	44	6
GARANTI FILO SIGORTA ARACILIK HIZMETLERI A.S.	TURKEY	FINANCIAL SERVICES	-	100.00	100.00	-	1	-	-	-
GARANTI FILO YONETIM HIZMETLERI A.S.	TURKEY	SERVICES	-	100.00	100.00	3	319	309	6	4
GARANTI FINANSAL KIRALAMA A.S.	TURKEY	FINANCIAL SERVICES	-	100.00	100.00	238	1,481	1,232	234	16
GARANTI HIZMET YONETIMI A.S	TURKEY	FINANCIAL SERVICES	-	99.40	99.40	-	2	1	2	(1)
GARANTI HOLDING BV	NETHERLANDS	INVESTMENT COMPANY	-	100.00	100.00	195	341	-	341	-
GARANTI KONUT FINANSMANI DANISMANLIK HIZMETLERI AS (GARANTI MORTGAGE)	TURKEY	SERVICES	-	100.00	100.00	-	1	-	-	-
GARANTI KULTUR AS	TURKEY	SERVICES	-	100.00	100.00	-	1	-	-	-
GARANTI ODEME SISTEMLERI A.S.(GOSAS)	TURKEY	FINANCIAL SERVICES	-	100.00	100.00	-	7	3	5	(1)
GARANTI PORTFOY YONETIMI AS	TURKEY	FINANCIAL SERVICES	-	100.00	100.00	14	17	3	10	4
GARANTI YATIRIM MENKUL KIYMETLER AS	TURKEY	FINANCIAL SERVICES	-	100.00	100.00	18	91	72	12	6
GARANTI YATIRIM ORTAKLIGI AS	TURKEY	INVESTMENT COMPANY	-	99.97	99.97	-	10	-	9	1
GARANTIBANK INTERNATIONAL NV	NETHERLANDS	BANKING	-	100.00	100.00	546	4,823	4,276	532	15
GARRAF MEDITERRANIA, S.A. (**)	SPAIN	REAL ESTATE	-	100.00	100.00	-	16	16	-	-
GESCAT LLEVANT, S.L. (***)	SPAIN	REAL ESTATE	-	100.00	100.00	-	14	16	(2)	-
GESCAT LLOGUERS, S.L. (****)	SPAIN	REAL ESTATE	100.00	-	100.00	-	7	16	(9)	-

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• (*) Information on foreign companies at exchange rate on December 31, 2016
• (**) This company has an equity loan from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A.
• (***) This company has an equity loan from CATALUNYACAIXA IMMOBILIARIA, S.A.
• (****) This company has an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

Additional Information on Consolidated Subsidiaries and strucuted entities composing the BBVA Group (Continued)

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
GESCAT POLSKA, SP. ZOO	POLAND	REAL ESTATE	100.00	-	100.00	9	12	1	11	-
GESCAT SINEVA, S.L. (**)	SPAIN	REAL ESTATE	-	100.00	100.00	-	2	3	(1)	-
GESCAT, GESTIO DE SOL, S.L. (***)	SPAIN	REAL ESTATE	100.00	-	100.00	-	21	42	(20)	(2)
GESCAT, VIVENDES EN COMERCIALITZACIO, S.L. (**)(***)	SPAIN	REAL ESTATE	100.00	-	100.00	-	226	618	(355)	(37)
GESTIO D'ACTIUS TITULITZATS, S.A.	SPAIN	FINANCIAL SERVICES	100.00	-	100.00	3	4	-	3	1
GESTION DE PREVISION Y PENSIONES, S.A.	SPAIN	PENSION FUNDS MANAGEMENT	60.00	-	60.00	9	32	3	21	7
GESTION Y ADMINISTRACION DE RECIBOS, S.A. - GARSA	SPAIN	SERVICES	-	100.00	100.00	1	2	1	1	-
GOBERNALIA GLOBAL NET, S.A.	SPAIN	SERVICES	-	100.00	100.00	2	15	6	7	2
GRAN JORGE JUAN, S.A.	SPAIN	REAL ESTATE	100.00	-	100.00	375	1,012	632	398	(17)
GRANFIDUCIARIA	COLOMBIA	IN LIQUIDATION	-	90.00	90.00	-	-	-	-	-
GRUPO FINANCIERO BBVA BANCOMER, S.A. DE C.V.	MEXICO	FINANCIAL SERVICES	99.98	-	99.98	6,678	8,720	1	6,745	1,974
GUARANTY BUSINESS CREDIT CORPORATION	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	35	35	-	35	-
GUARANTY PLUS HOLDING COMPANY	UNITED STATES	INVESTMENT COMPANY	-	100.00	100.00	(42)	63	105	(40)	(2)
GUARANTY PLUS PROPERTIES LLC-2	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	44	44	-	44	-
GUARANTY PLUS PROPERTIES, INC-1	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	12	12	-	12	-
HABITAT ZENTRUM, S.L. (****)	SPAIN	REAL ESTATE	-	50.00	50.00	-	-	6	(6)	-
HABITATGES FINVER, S.L. (*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	2	2	-	-
HABITATGES INVERCAP, S.L. (*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	-	1	(1)	-
HABITATGES INVERVIC, S.L. (*****)	SPAIN	REAL ESTATE	-	35.00	35.00	-	1	14	(12)	(1)
HABITATGES JUVIPRO, S.L. (******)	SPAIN	REAL ESTATE	-	100.00	100.00	-	2	3	(1)	-
HIPOTECARIA NACIONAL, S.A. DE C.V.	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	8	13	5	8	1
HOLVI PAYMENT SERVICE OY	FINLANDIA	FINANCIAL SERVICES	-	100.00	100.00	13	3	-	6	(4)
HOMEOWNERS LOAN CORPORATION	UNITED STATES	IN LIQUIDATION	-	100.00	100.00	8	9	1	9	(1)
HUMAN RESOURCES PROVIDER, INC	UNITED STATES	SERVICES	-	100.00	100.00	436	436	-	430	6
HUMAN RESOURCES SUPPORT, INC	UNITED STATES	SERVICES	-	100.00	100.00	431	431	-	426	5
INMESP DESARROLLADORA, S.A. DE C.V.	MEXICO	REAL ESTATE	-	100.00	100.00	26	38	13	31	(5)
INMUEBLES Y RECUPERACIONES CONTINENTAL S.A	PERU	REAL ESTATE	-	100.00	100.00	13	14	1	11	2
INNOVATION 4 SECURITY, S.L.	SPAIN	SERVICES	-	100.00	100.00	-	4	1	1	2
INPAU, S.A. (**)	SPAIN	REAL ESTATE	-	100.00	100.00	5	46	40	(8)	14
INVERAHORRO, S.L.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	13	91	78	16	(3)
INVERCARTERA INTERNACIONAL, S.L.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	8	8	-	8	-
INVERPRO DESENVOLUPAMENT, S.L.	SPAIN	INVESTMENT COMPANY	-	100.00	100.00	3	9	6	4	(1)
INVERSIONES ALDAMA, C.A.	VENEZUELA	IN LIQUIDATION	-	100.00	100.00	-	-	-	-	-
INVERSIONES BANPRO INTERNATIONAL INC. N.V.	CURACAO	INVESTMENT COMPANY	48.00	-	48.00	16	56	2	52	2
INVERSIONES BAPROBA, C.A.	VENEZUELA	FINANCIAL SERVICES	100.00	-	100.00	1	-	-	-	-
INVERSIONES DE INNOVACION EN SERVICIOS FINANCIEROS, S.L.	SPAIN	INVESTMENT COMPANY	-	100.00	100.00	40	80	34	45	1
INVERSIONES P.H.R,4, C.A.	VENEZUELA	INACTIVE	-	60.46	60.46	-	-	-	-	-
INVESCO MANAGEMENT Nº 1, S.A.	LUXEMBOURG	FINANCIAL SERVICES	-	100.00	100.00	8	8	-	8	-
INVESCO MANAGEMENT Nº 2, S.A.	LUXEMBOURG	FINANCIAL SERVICES	-	100.00	100.00	-	3	18	(14)	(1)
IRIDION SOLUCIONS IMMOBILIARIES, S.L. (***)	SPAIN	REAL ESTATE	100.00	-	100.00	-	2	127	(121)	(4)

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• (*) Information on foreign companies at exchange rate on December 31, 2016
• (**) These companies have equity loans from CATALUNYACAIXA IMMOBILIARIA, S.A.
• (***) These companies have equity loans from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
• (****) This company has an equity loan from EXPANSION INTERCOMARCAL, S.L.
• (*****) These companies have equity loans from INVERPRO DESENVOLUPAMENT, S.L.
• (******) This company has equity loans from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A

Additional Information on Consolidated Subsidiaries and strucuted entities composing the BBVA Group (Continued)

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
JALE PROCAM, S.L.	SPAIN	REAL ESTATE	-	50.00	50.00	-	4	44	(40)	-
L'EIX IMMOBLES, S.L. (*****)(******)	SPAIN	REAL ESTATE	-	100.00	100.00	-	20	26	(4)	(2)
LIQUIDITY ADVISORS, L.P	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	1,198	1,199	-	1,192	6
MADIVA SOLUCIONES, S.L.	SPAIN	SERVICES	-	100.00	100.00	9	2	1	1	-
MILLENNIUM PROCAM, S.L. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	-	1	-	-
MISAPRE, S.A. DE C.V.	MEXICO	FINANCIAL SERVICES	-	100.00	100.00	2	2	-	2	-
MOMENTUM SOCIAL INVESTMENT HOLDING, S.L.	SPAIN	INVESTMENT COMPANY	-	100.00	100.00	7	7	-	7	-
MOTORACTIVE IFN SA	ROMANIA	FINANCIAL SERVICES	-	100.00	100.00	38	157	135	17	5
MOTORACTIVE MULTISERVICES SRL	ROMANIA	SERVICES	-	100.00	100.00	-	10	10	-	-
MULTIASISTENCIA OPERADORA S.A. DE C.V.	MEXICO	INSURANCES SERVICES	-	100.00	100.00	-	1	1	-	-
MULTIASISTENCIA SERVICIOS S.A. DE C.V.	MEXICO	INSURANCES SERVICES	-	100.00	100.00	1	3	2	1	-
MULTIASISTENCIA, S.A. DE C.V.	MEXICO	INSURANCES SERVICES	-	100.00	100.00	22	29	7	16	6
NEWCO PERU S.A.C.	PERU	INVESTMENT COMPANY	100.00	-	100.00	124	921	-	835	86
NOET, INC.	UNITED STATES	SERVICES	-	100.00	100.00	-	-	-	-	-
NOIDIRI, S.L. (***)	SPAIN	REAL ESTATE	100.00	-	100.00	-	-	12	(11)	-
NOVA EGARA-PROCAM, S.L. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	1	1	-	1	-
NOVA TERRASSA 3, S.L. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	4	12	8	4	-
OPCION VOLCAN, S.A.	MEXICO	REAL ESTATE	-	100.00	100.00	16	18	2	17	(2)
OPERADORA DOS LAGOS S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	1	1	-	-	-
OPPLUS OPERACIONES Y SERVICIOS, S.A.	SPAIN	SERVICES	100.00	-	100.00	1	29	10	16	3
OPPLUS S.A.C (En liquidacion)	PERU	IN LIQUIDATION	-	100.00	100.00	1	1	-	1	-
PARCSUD PLANNER, S.L. (******)	SPAIN	REAL ESTATE	-	100.00	100.00	-	7	9	(2)	(1)
PARTICIPACIONES ARENAL, S.L.	SPAIN	INACTIVE	-	100.00	100.00	8	8	-	8	-
PECRI INVERSION S.L.	SPAIN	OTHER INVESTMENT COMPANIES	100.00	-	100.00	98	98	-	99	(1)
PENSIONES BBVA BANCOMER, S.A. DE C.V., GRUPO FINANCIERO BBVA BANCOMER	MEXICO	INSURANCES SERVICES	-	100.00	100.00	197	4,040	3,843	156	41
PHOENIX LOAN HOLDINGS, INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	312	334	22	306	6
PI HOLDINGS NO. 1, INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	90	90	-	90	-
PI HOLDINGS NO. 3, INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	1	1	-	1	-
PORTICO PROCAM, S.L.	SPAIN	REAL ESTATE	-	100.00	100.00	25	25	-	25	-
PRO-SALUD, C.A.	VENEZUELA	INACTIVE	-	58.86	58.86	-	-	-	-	-
PROCAMVASA, S.A.	SPAIN	REAL ESTATE	-	51.00	51.00	-	-	-	-	-
PROMOCION EMPRESARIAL XX, S.A.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	8	8	-	8	-
PROMOCIONES Y CONSTRUCCIONES CERBAT, S.L.U.	SPAIN	REAL ESTATE	-	100.00	100.00	9	25	-	25	-
PROMOTORA DEL VALLES, S.L. (******)	SPAIN	REAL ESTATE	-	100.00	100.00	-	160	266	(98)	(8)
PROMOU CT 3AG DELTA, S.L. (******)	SPAIN	REAL ESTATE	-	100.00	100.00	-	10	12	(2)	-
PROMOU CT EIX MACIA, S.L. (******)	SPAIN	REAL ESTATE	-	100.00	100.00	3	6	2	1	3
PROMOU CT GEBIRA, S.L. (******)	SPAIN	REAL ESTATE	-	100.00	100.00	-	8	12	(3)	-
PROMOU CT OPENSEGRE, S.L. (**)(******)	SPAIN	REAL ESTATE	-	100.00	100.00	-	28	46	(16)	(2)
PROMOU CT VALLES, S.L.	SPAIN	REAL ESTATE	-	100.00	100.00	2	9	8	2	-

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• (*) Information on foreign companies at exchange rate on December 31, 2016
• (**) This company has an equity loan from ARRELS CT PROMOU, S.A.
• (***) This company has an equity loan from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
• (***) These companies have equity loans from CATALUNYACAIXA IMMOBILIARIA, S.A.
• (****) This company has an equity loan from PROMOTORA DEL VALLES, S.L.
• (*****) These companies have equity loans from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A.

Additional Information on Consolidated Subsidiaries and strucuted entities composing the BBVA Group (Continued)

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
PROMOU GLOBAL, S.L. (**)(*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	94	124	(45)	15
PRONORTE UNO PROCAM, S.A. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	5	15	(10)	-
PROPEL VENTURE PARTNERS US FUND I, L.P.	UNITED STATES	VENTURE CAPITAL	-	100.00	100.00	21	22	1	23	(2)
PROV-INFI-ARRAHONA, S.L. (*****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	18	22	(6)	2
PROVINCIAL DE VALORES CASA DE BOLSA, C.A.	VENEZUELA	SECURITIES DEALER	-	90.00	90.00	-	-	-	-	-
PROVINCIAL SDAD.ADMIN.DE ENTIDADES DE INV.COLECTIVA, C.A.	VENEZUELA	FINANCIAL SERVICES	-	100.00	100.00	-	-	-	-	-
PROVIURE BARCELONA, S.L. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	2	2	-	-
PROVIURE CIUTAT DE LLEIDA, S.L. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	1	1	-	-
PROVIURE PARC D'HABITATGES, S.L. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	2	2	1	-
PROVIURE, S.L. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	4	3	(1)	1
PROVIVIENDA ENTIDAD RECAUDADORA Y ADMIN.DE APORTES, S.A.	BOLIVIA	PENSION FUNDS MANAGEMENT	-	100.00	100.00	2	7	5	2	-
PUERTO CIUDAD LAS PALMAS, S.A.	SPAIN	REAL ESTATE	-	96.64	96.64	-	36	59	(7)	(16)
QIPRO SOLUCIONES S.L.	SPAIN	SERVICES	-	100.00	100.00	5	11	3	6	3
RALFI IFN SA	ROMANIA	FINANCIAL SERVICES	-	100.00	100.00	40	97	83	10	4
RENTRUCKS, ALQUILER Y SERVICIOS DE TRANSPORTE, S.A.	SPAIN	INACTIVE	100.00	-	100.00	1	2	-	1	-
RESIDENCIAL CUMBRES DE SANTA FE, S.A. DE C.V.	MEXICO	REAL ESTATE	-	100.00	100.00	14	14	-	9	5
RPV COMPANY	CAYMAN ISLANDS	FINANCIAL SERVICES	-	100.00	100.00	-	1,469	1,469	-	-
RWHC, INC	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	771	771	-	754	16
S.B.D. NORD, S.L. (****)	SPAIN	REAL ESTATE	-	100.00	100.00	-	1	1	-	-
SATICEM GESTIO, S.L. (***)	SPAIN	REAL ESTATE	100.00	-	100.00	-	9	90	(78)	(3)
SATICEM HOLDING, S.L.	SPAIN	REAL ESTATE	100.00	-	100.00	5	6	-	5	1
SATICEM IMMOBILIARIA, S.L.	SPAIN	REAL ESTATE	100.00	-	100.00	6	19	-	11	8
SATICEM IMMOBLES EN ARRENDAMENT, S.L. (***)	SPAIN	REAL ESTATE	100.00	-	100.00	-	26	85	(57)	(3)
SCALDIS FINANCE, S.A.	BELGICA	INVESTMENT COMPANY	-	100.00	100.00	4	18	-	18	-
SEGUROS BBVA BANCOMER, S.A. DE C.V., GRUPO FINANCIERO BBVA BANCOMER	MEXICO	INSURANCES SERVICES	-	100.00	100.00	388	3,347	2,959	171	217
SEGUROS PROVINCIAL, C.A.	VENEZUELA	INSURANCES SERVICES	-	100.00	100.00	1	1	-	1	(1)
SERVICIOS CORPORATIVOS BANCOMER, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	4	7	2	4	-
SERVICIOS CORPORATIVOS DE SEGUROS, S.A. DE C.V.	MEXICO	SERVICES	-	100.00	100.00	2	10	8	2	-
SERVICIOS EXTERNOS DE APOYO EMPRESARIAL, S.A DE C.V.	MEXICO	SERVICES	-	100.00	100.00	7	20	14	5	1
SERVICIOS TECNOLOGICOS SINGULARES, S.A.	SPAIN	SERVICES	-	100.00	100.00	1	1	-	1	-
SIMPLE FINANCE TECHNOLOGY CORP.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	53	66	13	146	(92)
SOCIEDAD DE ESTUDIOS Y ANALISIS FINANCIERO.,S.A.	SPAIN	SERVICES	100.00	-	100.00	104	108	5	107	(3)
SOCIEDAD GESTORA DEL FONDO PUBLICO DE REGULACION DEL MERCADO HIPOTECARIO, S.A.	SPAIN	INACTIVE	77.20	-	77.20	-	-	-	-	-
SPORT CLUB 18, S.A.	SPAIN	INVESTMENT COMPANY	100.00	-	100.00	14	14	-	15	(1)
STATE NATIONAL CAPITAL TRUST I	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	-	15	14	-	-
STATE NATIONAL STATUTORY TRUST II	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	-	10	10	-	-
TEXAS LOAN SERVICES, LP.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	1,208	1,208	-	1,199	9
TEXAS REGIONAL STATUTORY TRUST I	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	1	49	47	1	-
TEXASBANC CAPITAL TRUST I	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	1	25	24	1	-
TEXTIL TEXTURA, S.L.	SPAIN	COMMERCIAL	-	68.67	68.67	2	-	-	-	-

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(*) Information on foreign companies at exchange rate on December 31, 2016
(**) This company has an equity loan from ARRELS CT PROMOU, S.A.
(***) These companies have equity loans from BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
(****) These companies have equity loans from CATALUNYACAIXA IMMOBILIARIA, S.A.
(*****) These companies have equity loans from UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A.

Additional Information on Consolidated Subsidiaries and strucuted entities composing the BBVA Group (Continued)

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
TMF HOLDING INC.	UNITED STATES	INVESTMENT COMPANY	-	100.00	100.00	15	22	7	13	2
TRIFOI REAL ESTATE SRL	ROMANIA	REAL ESTATE	-	100.00	100.00	1	1	-	1	-
TUCSON LOAN HOLDINGS, INC.	UNITED STATES	FINANCIAL SERVICES	-	100.00	100.00	57	57	-	55	2
TURKIYE GARANTI BANKASI A.S	TURKEY	BANKING	39.90	-	39.90	6,177	76,017	66,433	8,191	1,393
UNITARIA GESTION DE PATRIMONIOS INMOBILIARIOS	SPAIN	REAL ESTATE	-	100.00	100.00	2	3	-	3	-
UNIVERSALIDAD TIPS PESOS E-9	COLOMBIA	FINANCIAL SERVICES	-	100.00	100.00	-	60	29	28	3
UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A. (**)	SPAIN	REAL ESTATE	100.00	-	100.00	-	941	1,102	(32)	(129)
URBANIZADORA SANT LLORENC, S.A.	SPAIN	INACTIVE	60.60	-	60.60	-	-	-	-	-
VALANZA CAPITAL S.A. UNIPERSONAL	SPAIN	SERVICES	100.00	-	100.00	1	7	-	7	-
VOLJA LUX, SARL	LUXEMBOURG	INVESTMENT COMPANY	-	71.78	71.78	-	1	1	1	(1)
VOLJA PLUS SL	SPAIN	INVESTMENT COMPANY	75.40	-	75.40	1	2	-	(17)	19
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA S.A.	ARGENTINA	FINANCIAL SERVICES	-	51.00	51.00	16	110	78	32	-

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(*) Information on foreign companies at exchange rate on December 31, 2016
(**) This company has an equity loan from BBVA, S.A.

APPENDIX II Additional information on investments in subsidiaries, joint ventures and associates in the BBVA Group

Including the most significant entities, jointly representing 99,71% of all investment in this

			% Legal share of participation			Millions of Euros(*)
						Affiliate Entity Data
Company	Location	Activity	Direct	Indirect	Total	Net Carrying Amount	Assets 31,12,16	Liabilities 31,12,16	Equity 31,12,16	Profit (Loss) 31,12,16
ADQUIRA ESPAÑA, S.A.	SPAIN	COMMERCIAL	-	40.00	40.00	3	19	11	7	1
ADQUIRA MEXICO, S.A. DE C.V.(*)	MEXICO	COMMERCIAL	-	50.00	50.00	2	5	2	3	-
ALTURA MARKETS, SOCIEDAD DE VALORES, S.A.(*)	SPAIN	SECURITIES DEALER	50.00	-	50.00	19	1,738	1,700	30	8
ATOM BANK PLC	UNITED KINGDOM	BANKING	29.46	-	29.46	43	229	137	129	(36)
AUREA, S.A. (CUBA)	CUBA	REAL ESTATE	-	49.00	49.00	5	10	-	9	-
AVANTESPACIA INMOBILIARIA, S.L.(*)	SPAIN	REAL ESTATE	-	30.01	30.01	18	73	12	60	-
BANK OF HANGZHOU CONSUMER FINANCE CO LTD	CHINA	BANKING	30.00	-	30.00	20	71	5	68	(1)
CANCUN SUN & GOLF COUNTRY CLUB, S.A.P.I. DE C.V.	MEXICO	REAL ESTATE	-	33.33	33.33	23	75	35	44	(4)
COMPAÑIA ESPAÑOLA DE FINANCIACION DEL DESARROLLO S.A.	SPAIN	FINANCIAL SERVICES	16.67	-	16.67	19	122	5	109	8
COMPAÑIA MEXICANA DE PROCESAMIENTO, S.A. DE C.V.(*)	MEXICO	SERVICES	-	50.00	50.00	6	12	-	11	1
CORPORACION IBV PARTICIPACIONES EMPRESARIALES, S.A.(*)	SPAIN	INVESTMENT COMPANY	-	50.00	50.00	29	126	25	101	-
DESARROLLOS METROPOLITANOS DEL SUR, S.L.(*)	SPAIN	REAL ESTATE	-	50.00	50.00	11	41	20	23	(1)
FERROMOVIL 3000, S.L.(*)	SPAIN	SERVICES	-	20.00	20.00	4	459	437	25	(4)
FERROMOVIL 9000, S.L.(*)	SPAIN	SERVICES	-	20.00	20.00	3	298	282	19	(3)
FIDEICOMISO 1729 INVEX ENAJENACION DE CARTERA (*)	MEXICO	REAL ESTATE	-	32.25	32.25	57	177	-	177	-
FIDEICOMISO F 403853- 5 BBVA BANCOMER SERVICIOS ZIBATA (*)	MEXICO	REAL ESTATE	-	30.00	30.00	33	184	58	98	27
FIDEICOMISO F/00185 FIMPE - FIDEICOMISO F/00185 PARA EXTENDER A LA SOCIEDAD LOS BENEFICIOS DEL ACCESO A LA INFRAESTRUCTURA DE LOS MEDIOS DE PAGO ELECTRONICOS	MEXICO	FINANCIAL SERVICES	-	28.50	28.50	4	14	-	15	(1)
FIDEICOMISO F/402770-2 ALAMAR(*)	MEXICO	REAL ESTATE	-	42.40	42.40	8	19	-	19	-
INVERSIONES PLATCO, C.A.(*)	VENEZUELA	FINANCIAL SERVICES	-	50.00	50.00	4	9	1	13	(5)
METROVACESA PROMOCION Y ARRENDAMIENTO S.A.	SPAIN	REAL ESTATE	15.90	4.62	20.52	67	326	-	326	-
METROVACESA SUELO Y PROMOCION, S.A.	SPAIN	REAL ESTATE	15.90	4.62	20.52	208	1,080	68	1,013	-
PARQUE RIO RESIDENCIAL, S.L.(*)	SPAIN	REAL ESTATE	-	50.00	50.00	10	21	2	20	-
PROMOCIONS TERRES CAVADES, S.A.(*)	SPAIN	REAL ESTATE	-	39.11	39.11	4	15	-	15	-
PSA FINANCE ARGENTINA COMPAÑIA FINANCIERA, S.A.(*)	ARGENTINA	BANKING	-	50.00	50.00	21	191	148	28	14
RCI COLOMBIA S.A., COMPAÑIA DE FINANCIAMIENTO (*)	COLOMBIA	FINANCIAL SERVICES	-	49.00	49.00	17	139	104	37	(2)
REAL ESTATE DEAL II, S.A.(*)	SPAIN	IN LIQUIDATION	20.06	-	20.06	4	23	5	23	(6)
REDSYS SERVICIOS DE PROCESAMIENTO, S.L.	SPAIN	FINANCIAL SERVICES	20.00	0.00	20.00	8	146	106	32	7
ROMBO COMPAÑIA FINANCIERA, S.A.	ARGENTINA	BANKING	-	40.00	40.00	19	329	284	37	7
SERVICIOS ELECTRONICOS GLOBALES, S.A. DE C.V.	MEXICO	SERVICES	-	46.14	46.14	6	12	-	10	2
SERVIRED SOCIEDAD ESPAÑOLA DE MEDIOS DE PAGO, S.A.	SPAIN	FINANCIAL SERVICES	28.72	0.00	28.72	11	49	12	29	8
SOCIEDAD ADMINISTRADORA DE FONDOS DE CESANTIA DE CHILE II, S.A.	CHILE	PENSION FUNDS MANAGEMENT	-	48.60	48.60	11	28	6	20	2
TELEFONICA FACTORING ESPAÑA, S.A.	SPAIN	FINANCIAL SERVICES	30.00	-	30.00	4	77	62	7	8
TESTA RESIDENCIAL SOCIMI SAU	SPAIN	REAL ESTATE	10.46	3.04	13.50	91	831	366	462	3
VITAMEDICA ADMINISTRADORA, S.A. DE C.V (*)	MEXICO	SERVICES	-	51.00	51.00	2	12	8	3	1

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APPENDIX III Changes and notification of investments and divestments in the BBVA Group in the year ended December 31, 2016

Acquisitions or Increases of Interest Ownership in Consolidated Subsidiarie

			Millions of Euros		% of Voting Rights
Company	Type of Transaction	Activity	Price Paid in the Transactions + Expenses directly attributable to the Transactions	Fair Value of Equity Instruments issued for the Transactions	% Participation (net) Acquired in the Period	Total Voting Rights Controlled after the Transactions	Effective Date for the Transaction (or Notification Date)	Category
PROPEL VENTURE PARTNERS US FUND I, L.P.	FOUNDING	VENTURE CAPITAL	2	-	100.00%	100.00%	14-Jan-16	SUBSIDIARY
BBVA NOMINEES LIMITED	ACQUISITION	SERVICES	-	-	5.00%	100.00%	29-Jan-16	SUBSIDIARY
BBVA COMPASS PAYMENTS, INC	FOUNDING	INVESTMENT COMPANY	43	-	100.00%	100.00%	1-mar-16	SUBSIDIARY
HOLVI PAYMENT SERVICE OY	ACQUISITION	FINANCIAL SERVICES	9	-	100.00%	100.00%	4-mar-16	SUBSIDIARY
RENTRUCKS, ALQUILER Y SERVICIOS DE TRANSPORTE, S.A.	ACQUISITION	FINANCIAL SERVICES	-	-	0.68%	100.00%	29-mar-16	SUBSIDIARY
ESPAIS CERDANYOLA, S.L.	ACQUISITION	REAL ESTATE	14	-	47.51%	97.51%	31-mar-16	SUBSIDIARY
FIDEICOMISO F/403112-6 DE ADMINISTRACION DOS LAGOS	ACQUISITION	REAL ESTATE	-	-	50.00%	100.00%	31-mar-16	SUBSIDIARY
FIDEICOMISO SCOTIABANK INVERLAT S A F100322908	ACQUISITION	REAL ESTATE	2	-	50.00%	100.00%	31-mar-16	SUBSIDIARY
OPERADORA DOS LAGOS S.A. DE C.V.	ACQUISITION	SERVICES	-	-	50.00%	100.00%	31-mar-16	SUBSIDIARY
BBVA CONSUMER FINANCE ENTIDAD DE DESARROLLO A LA PEQUEÑA Y MICRO EMPRESA, EDPYME, S.A. (BBVA CONSUMER FINANCE - EDPYME)	ACQUISITION	FINANCIAL SERVICES	3	-	15.68%	100.00%	29-apr-16	SUBSIDIARY
FORUM COMERCIALIZADORA DEL PERU, S.A.	ACQUISITION	SERVICES	1	-	15.68%	100.00%	29-apr-16	SUBSIDIARY
FORUM DISTRIBUIDORA DEL PERU, S.A.	ACQUISITION	FINANCIAL SERVICES	1	-	15.68%	100.00%	29-apr-16	SUBSIDIARY
BBVA OP3N S.L.	FOUNDING	SERVICES	-	-	100.00%	100.00%	1-jul-16	SUBSIDIARY
HABITATGES FINVER, S.L.	ACQUISITION	REAL ESTATE	-	-	50.00%	100.00%	14-jul-16	SUBSIDIARY
DATA ARCHITECTURE AND TECHNOLOGY S.L	FOUNDING	SERVICES	-	-	51.00%	51.00%	28-jul-16	SUBSIDIARY
NEW CO PERU SAC	SPLIT	INVESTMENT COMPANY	-	-	100.00%	100.00%	31-jul-16	SUBSIDIARY
VOLJA PLUS SL	DILUTION EFFECT	INVESTMENT COMPANY	-	-	0.46%	75.40%	31-jul-16	SUBSIDIARY
DALLAS CREATION CENTER, INC	FOUNDING	SERVICES	2	-	100.00%	100.00%	1-aug-16	SUBSIDIARY
BBVA OP3N, INC	FOUNDING	SERVICES	-	-	100.00%	100.00%	5-aug-16	SUBSIDIARY
GRUPO FINANCIERO BBVA BANCOMER, S.A. DE C.V.	ACQUISITION	FINANCIAL SERVICES	1	-	0.01%	99.98%	7-sept-16	SUBSIDIARY
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA S.A.	ACQUISITION	FINANCIAL SERVICES	17	-	51.00%	51.00%	26-sept-16	SUBSIDIARY
FIDEICOMISO LOTE 6,1 ZARAGOZA	ACQUISITION	REAL ESTATE	1	-	59.99%	59.99%	27-oct-16	SUBSIDIARY
BBVA BROKER, S.A.	FOUNDING	INSURANCES SERVICES	-	-	95.00%	95.00%	1-nov-16	SUBSIDIARY
CX PROPIETAT, FII	ACQUISITION	FONDO INVERSIÓN INMOBILIARIA	-	-	0.19%	67.93%	30-nov-16	SUBSIDIARY
GARANTI YATIRIM ORTAKLIGI AS	CONTROL RIGHTS	INVESTMENT COMPANY	-	-	3.30%	99.97%	30-nov-16	SUBSIDIARY
NOET, INC.	FOUNDING	SERVICES	-	-	100.00%	100.00%	1-dec-16	SUBSIDIARY
CATALONIA GEBIRA, S.L.	ACQUISITION	REAL ESTATE	-	-	18.33%	100.00%	15-dec-16	SUBSIDIARY
GARRAF MEDITERRANIA, S.A.	ACQUISITION	REAL ESTATE	2	-	9.42%	100.00%	29-dec-16	SUBSIDIARY

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Disposals or Reduction of Interest Ownership in Consolidated Subsidiaries

			Millions of Euros		% of Voting Rights
Company	Type of Transaction	Activity	Profit (Loss) in the Transaction (*) Millions of Euros	Changes in the Equity due to the transaction - Millions of Euros	% Participation Sold in the Period	Total Voting Rights Controlled after the Disposal	Effective Date for the Transaction (or Notification Date)	Category
ANIDA SERVICIOS INMOBILIARIOS, S.A. DE C.V.	MERGER	SERVICES	-	-	100.00%	-	31-Jan-16	SUBSIDIARY
HIPOTECARIA NACIONAL MEXICANA INCORPORATED	LIQUIDATION	REAL ESTATE	-	-	100.00%	-	31-Jan-16	SUBSIDIARY
ARRAHONA GARRAF, S.L.	LIQUIDATION	REAL ESTATE	(1)	-	100.00%	-	21-mar-16	SUBSIDIARY
ECOARENYS, S.L.	NON CONTROL	REAL ESTATE	9	-	50.00%	-	31-mar-16	SUBSIDIARY
IMOBILIARIA DUQUE DE AVILA, S.A.	DISPOSAL	REAL ESTATE	(1)	-	100.00%	-	22-apr-16	SUBSIDIARY
FIDEICOMISO Nº 781, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 3ª EMISION)	MERGER	FINANCIAL SERVICES	-	-	100.00%	-	30-may-16	SUBSIDIARY
BBVA GEST, S.G.DE FUNDOS DE INVESTIMENTO MOBILIARIO, S.A.	LIQUIDATION	SOCIEDAD DE VALORES	-	-	100.00%	-	9-jun-16	SUBSIDIARY
PROXIMA ALFA INVESTMENTS HOLDINGS (USA) INC.	LIQUIDATION	INVESTMENT COMPANY	3	-	100.00%	-	30-jun-16	SUBSIDIARY
PROXIMA ALFA INVESTMENTS HOLDINGS (USA) II INC.	LIQUIDATION	INVESTMENT COMPANY	-	-	100.00%	-	30-jun-16	SUBSIDIARY
PROXIMA ALFA INVESTMENTS (USA) LLC	LIQUIDATION	FINANCIAL SERVICES	-	-	100.00%	-	30-jun-16	SUBSIDIARY
UNIDAD DE AVALUOS MEXICO, S.A. DE CV	DISPOSAL	FINANCIAL SERVICES	18	-	100.00%	-	29-jul-16	SUBSIDIARY
HOLDING CONTINENTAL, S.A.	SPLIT	INVESTMENT COMPANY	-	-	50.00%	-	31-jul-16	SUBSIDIARY
EUROPEA DE TITULIZACION, S.A., S.G.F.T.	DILUTION EFFECT	FINANCIAL SERVICES	-	-	1.14%	87.86%	31-aug-16	SUBSIDIARY
CATALUNYA BANC, S.A.	MERGER	BANKING	-	-	99.10%	-	9-sept-16	SUBSIDIARY
CATALUNYACAIXA INVERSIO, SGIIC, S.A.	MERGER	OTHER INVESTMENT COMPANIES	-	-	100.00%	-	13-sept-16	SUBSIDIARY
CATALUNYACAIXA MEDIACIO , S.L.	MERGER	FINANCIAL SERVICES	-	-	100.00%	-	6-oct-16	SUBSIDIARY
BBVA ELCANO EMPRESARIAL, S.A. EN LIQUIDACION	LIQUIDATION	IN LIQUIDATION	-	-	45.00%	-	25-oct-16	SUBSIDIARY
BBVA ELCANO EMPRESARIAL II, S.A. EN LIQUIDACION	LIQUIDATION	IN LIQUIDATION	-	-	45.00%	-	26-oct-16	SUBSIDIARY
BANCO DEPOSITARIO BBVA, S.A.	MERGER	BANKING	-	-	100.00%	-	11-nov-16	SUBSIDIARY
GARANTI BANK MOSCOW	DISPOSAL	BANKING	8	-	100.00%	-	5-dec-16	SUBSIDIARY
UNO-E BANK, S.A.	MERGER	BANKING	-	-	100.00%	-	9-dec-16	SUBSIDIARY

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Business Combinations and Other Acquisitions or Increases of Interest Ownership in Associates and Joint-Ventures Accounted for Under the Equity Method

			Millions of Euros		% of Voting Rights
Company	Type of Transaction	Activity	Price Paid in the Transactions + Expenses Directly Attributable to the Transactions - Millions of Euros	Fair Value of Equity Instruments Issued for the Transactions - Millions of Euros	% Participation (Net) Acquired in the Period	Total Voting Rights Controlled after the Disposal	Effective Date for the Transaction (or Notification Date)	Category
METROVACESA, S.A. (*)	AUMENTO DE CAPITAL (**)	REAL ESTATE	344	-	1.10%	20.52%	17-feb-16	ASSOCIATED
METROVACESA, S.A. (*)	ESCISIÓN PARCIAL	REAL ESTATE	(208)	-	-	-	1-mar-16	ASSOCIATED
METROVACESA, S.A. (*)	ESCISIÓN TOTAL	REAL ESTATE	(502)	-	-	-	26-oct-16	ASSOCIATED
METROVACESA SUELO Y PROMOCION, S.A.	SPLIT	REAL ESTATE	208	-	20.52%	20.52%	1-mar-16	ASSOCIATED
ATOM BANK PLC	ACQUISITION	BANKING	56	-	29.46%	29.46%	29-apr-16	ASSOCIATED
RCI COLOMBIA S.A., COMPAÑIA DE FINANCIAMIENTO	FOUNDING	FINANCIAL SERVICES	9	-	49.00%	49.00%	1-jun-16	JOINT VENTURE
PARQUE RIO RESIDENCIAL, S.L.	FOUNDING	REAL ESTATE	10	-	50.00%	50.00%	14-jun-16	JOINT VENTURE
CAPIPOTA PRODUCTIONS S.L.	ACQUISITION	COMMERCIAL	-	-	25.00%	25.00%	30-jun-16	JOINT VENTURE
FIDEICOMISO DE ADMINISTRACION REDETRANS	ACQUISITION	SERVICES	1	-	25.07%	25.07%	30-jun-16	JOINT VENTURE
IBV SOURCE - PRESTAÇAO DE SERVIÇOS INFORMATICOS, ACE	FOUNDING	SERVICES	-	-	49.00%	49.00%	31-jul-16	JOINT VENTURE
LA ESMERALDA DESARROLLOS, S.L.	ACQUISITION	REAL ESTATE	-	-	25.00%	50.00%	21-sept-16	JOINT VENTURE
AVANTESPACIA INMOBILIARIA, S.L.	FOUNDING	REAL ESTATE	12	-	30.01%	30.01%	20-oct-16	JOINT VENTURE
METROVACESA PROMOCION Y ARRENDAMIENTO S.A (*)	SPLIT	REAL ESTATE	67	-	20.52%	20.52%	26-oct-16	ASSOCIATED
TESTA RESIDENCIAL SOCIMI SAU (*)	SPLIT	REAL ESTATE	91	-	13.49%	13.49%	26-oct-16	ASSOCIATED
FIDEICOMISO F/404180-2 BBVA BANCOMER SERVICIOS GOLF ZIBATA	ACQUISITION	REAL ESTATE	-	-	30.00%	30.00%	1-dec-16	JOINT VENTURE

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• (*) First there was partial split of the of soil activity and promotion in favor of the society of new constitution Metrovacesa Suelo y Promoción, S.A. and in October was the total split of the society in favor of Testa Residencial SOCIMI SAU, Merlin Properties, SOCIMI, S.A. and the new constitution company Metrovacesa Promotion and Leasing S.A
• (**) Non-monetary contribution.

Disposal or Reduction of Interest Ownership in Associates and Joint-Ventures Companies Accounted for Under the Equity Method

			Millions of Euros	% of Voting Rights		Effective Date for the Transaction (or Notification Date)	Category
Company	Type of Transaction	Activity	Profit (Loss) in the Transaction (*) Millions of Euros	% Participation Sold in the Period	Total Voting Rights Controlled after the Disposal
BALMA HABITAT, S.L.	NON CONTROL	REAL ESTATE	-	50.00%	-	31-mar-16	JOINT VENTURE
ECUALITY E-COMMERCE QUALITY, S.A.S.P.	NON CONTROL	COMMERCIAL	-	28.00%	-	31-mar-16	ASSOCIATED
FIDEICOMISO SCOTIABANK INVERLAT SA F100322742	DISPOSAL	REAL ESTATE	5	33.78%	-	31-mar-16	JOINT VENTURE
I+D MEXICO, S.A. DE C.V.	DISPOSAL	SERVICES	16	50.00%	-	31-mar-16	JOINT VENTURE
OPERADORA HITO URBANO, S.A.DE C.V	DISPOSAL	SERVICES	-	35.00%	-	31-mar-16	JOINT VENTURE
OPERADORA MIRASIERRA, S.A. DE C.V.	DISPOSAL	SERVICES	-	35.00%	-	31-mar-16	JOINT VENTURE
PROBIS AIGUAVIVA, S.L.	NON CONTROL	REAL ESTATE	(1)	50.00%	-	31-mar-16	JOINT VENTURE
AMBIT D'EQUIPAMENTS, S.A.	NON CONTROL	REAL ESTATE	-	35.00%	-	30-apr-16	ASSOCIATED
CAPASATUS, S.L	NON CONTROL	REAL ESTATE	-	50.00%	-	30-apr-16	ASSOCIATED
CRUILLA CENTRE, S.L.	NON CONTROL	REAL ESTATE	-	49.04%	-	30-apr-16	JOINT VENTURE
EUGESA PROCAM, S.L.	NON CONTROL	REAL ESTATE	-	55.00%	-	30-apr-16	JOINT VENTURE
HARMONIA BADALONA, S.L.	NON CONTROL	REAL ESTATE	-	45.00%	-	30-apr-16	JOINT VENTURE
HARMONIA PLA DE PONENT, S.L.	NON CONTROL	REAL ESTATE	-	22.33%	-	30-apr-16	ASSOCIATED
IMMOCENTRE 3000, S.L.	NON CONTROL	REAL ESTATE	-	40.00%	-	30-apr-16	JOINT VENTURE
LANDOMUS, S.L.	NON CONTROL	REAL ESTATE	-	50.00%	-	30-apr-16	JOINT VENTURE
L'ERA DE VIC, S.L.	NON CONTROL	REAL ESTATE	-	40.00%	-	30-apr-16	JOINT VENTURE
NOU MAPRO, S.A.	NON CONTROL	REAL ESTATE	-	50.00%	-	30-apr-16	JOINT VENTURE
SARDENYA CENTRE, S.L.	NON CONTROL	REAL ESTATE	-	50.00%	-	30-apr-16	JOINT VENTURE
TAGE CENTRE PROMOCIONS IMMOBILIARIES, S.L.	NON CONTROL	REAL ESTATE	-	50.00%	-	30-apr-16	JOINT VENTURE
VERTIX PROCAM PATRIMONIAL, S.L.	NON CONTROL	REAL ESTATE	-	100.00%	-	30-apr-16	JOINT VENTURE
VISOREN CENTRE, S.L.	NON CONTROL	REAL ESTATE	-	40.00%	-	30-apr-16	JOINT VENTURE
INMOBILIARIA MONTE BOADILLA, S.L.	NON CONTROL	REAL ESTATE	-	51.00%	-	1-jul-16	JOINT VENTURE
SANYRES SUR, S.L.	DISPOSAL	SERVICES	-	33.05%	-	1-jul-16	JOINT VENTURE
UNION SANYRES, S.L.	DISPOSAL	REAL ESTATE	2	33.36%	-	1-jul-16	JOINT VENTURE
VIC CONVENT, S.L.	DISPOSAL	REAL ESTATE	-	25.00%	-	14-jul-16	ASSOCIATED
KUARS CENTRE, S.L.	DISPOSAL	REAL ESTATE	9	40.00%	-	8-sept-16	JOINT VENTURE
P.R.ALBIRSA, S.L.	LIQUIDACION	REAL ESTATE	-	50.00%	-	14-sept-16	JOINT VENTURE
S.C.I. MAGNAN SAINT PHILIPPE	LIQUIDATION	REAL ESTATE	-	25.00%	-	30-sept-16	ASSOCIATED
METROVACESA, S.A. (*)	ESCISION TOTAL	REAL ESTATE	(2)	20.52%	-	26-oct-16	ASSOCIATED
FIDEICOMISO F 404015-0 BBVA BANCOMER LOMAS III	DISPOSAL	REAL ESTATE	7	25.00%	-	29-nov-16	ASSOCIATED
FIDEICOMISO F/70191-2 LOMAS DE ANGELOPOLIS II	DISPOSAL	REAL ESTATE	4	25.00%	-	30-nov-16	JOINT VENTURE
PARQUE REFORMA SANTA FE, S.A. de C.V.	DISPOSAL	REAL ESTATE	2	30.00%	-	20-dec-16	ASSOCIATED
TENEDORA DE VEHICULOS, S.A.	LIQUIDACION	SERVICES	-	35.00%	-	22-dec-16	ASSOCIATED
BRUNARA, SICAV, S.A.	DISPOSAL	SOCIEDADES DE CAPITAL VARIABLE	-	30.36%	3.71%	31-dec-16	ASSOCIATED

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• (*) First there was partial split of the of soil activity and promotion in favor of the society of new constitution Metrovacesa Suelo y Promoción, S.A. and in October was the total split of the society in favor of Testa Residencial SOCIMI SAU, Merlin Properties, SOCIMI, S.A. and the new constitution company Metrovacesa Promotion and Leasing S.A.

Changes in other Companies quoted recognize as Available-For-Sale

			% of Voting Rights		Effective Date for the Transaction (or Notification Date)
Company	Type of Transaction	Activity	% Participation Acquired (Sold) in the Period	Totally Controlled after Transaction
MERLIN PROPERTIES SOCIMI, S.A	SPLIT METROVACESA	REAL ESTATE	6.44%	6.44%	2-nov-16

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APPENDIX IV Fully consolidated subsidiaries with more than 10% owned by non-Group shareholders as of December 31, 2016

		% of Voting Rights Controlled by the Bank
Company	Activity	Direct	Indirect	Total
BANCO CONTINENTAL, S.A.	BANKING	-	46	46
BANCO PROVINCIAL S.A. - BANCO UNIVERSAL	BANKING	1	54	55
INVERSIONES BANPRO INTERNATIONAL INC. N.V.	INVESTMENT COMPANY	48	-	48
PRO-SALUD, C.A.	NO ACTIVITY	-	59	59
INVERSIONES P.H.R,4, C.A.	NO ACTIVITY	-	60	60
BANCO BILBAO VIZCAYA ARGENTARIA CHILE, S.A.	BANKING	-	68	68
BBVA INMOBILIARIA E INVERSIONES, S.A.	REAL ESTATE	-	68	68
TEXTIL TEXTURA, S.L.	COMMERCIAL	-	69	69
COMERCIALIZADORA CORPORATIVA SAC	FINANCIAL SERVICES	-	50	50
DISTRITO CASTELLANA NORTE, S.A.	REAL ESTATE	-	76	76
GESTION DE PREVISION Y PENSIONES, S.A.	PENSION FUNDS MANAGEMENT	60	-	60
ESTACION DE AUTOBUSES CHAMARTIN, S.A.	SERVICES	-	51	51
F/403035-9 BBVA HORIZONTES RESIDENCIAL	REAL ESTATE	-	65	65
F/253863 EL DESEO RESIDENCIAL	REAL ESTATE	-	65	65
DATA ARCHITECTURE AND TECHNOLOGY S.L	SERVICES	-	51	51
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA S.A.	FINANCIAL SERVICES	-	51	51
FIDEICOMISO LOTE 6,1 ZARAGOZA	REAL ESTATE	-	60	60
HABITATGES INVERVIC, S.L.	REAL ESTATE	-	35	35
TURKIYE GARANTI BANKASI A.S	BANKING	40	-	40
GARANTI EMEKLILIK VE HAYAT AS	INSURANCES	-	85	85
GARANTI YATIRIM ORTAKLIGI AS	INVESTMENT COMPANY	-	100	100
FODECOR, S.L.	REAL ESTATE	-	60	60
PROCAMVASA, S.A.	REAL ESTATE	-	51	51
JALE PROCAM, S.L.	REAL ESTATE	-	50	50
VOLJA LUX, SARL	INVESTMENT COMPANY	-	72	72
HABITAT ZENTRUM, S.L.	REAL ESTATE	-	50	50
VOLJA PLUS SL	INVESTMENT COMPANY	75	-	75

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APPENDIX V BBVA Group’s structured entities. Securitization funds

			Millions of Euros
Securitization Fund (consolidated)	Company	Origination Date	Total Securitized Exposures at the Origination Date	Total Securitized Exposures as of December 31, 2016 (*)
2 PS Interamericana	BBVA CHILE S.A.	oct-04	31	3
AYT CAIXA SABADELL HIPOTECARIO I, FTA	BBVA, S.A.	jul-08	300	98
AYT HIPOTECARIO MIXTO IV, FTA	BBVA, S.A.	jun-05	100	24
AYT HIPOTECARIO MIXTO, FTA	BBVA, S.A.	mar-04	100	17
BACOMCB 07	BBVA BANCOMER, S.A.,INSTIT. BANCA	dec-07	121	-
BACOMCB 08	BBVA BANCOMER, S.A.,INSTIT. BANCA	mar-08	53	-
BACOMCB 08-2	BBVA BANCOMER, S.A.,INSTIT. BANCA	dec-08	267	-
BBVA CONSUMO 6 FTA	BBVA, S.A.	oct-14	299	181
BBVA CONSUMO 7 FTA	BBVA, S.A.	jul-15	1,450	1,433
BBVA CONSUMO 8 FT	BBVA, S.A.	jul-16	700	652
BBVA EMPRESAS 4 FTA	BBVA, S.A.	jul-10	1,700	133
BBVA LEASING 1 FTA	BBVA, S.A.	jun-07	2,500	97
BBVA PYME 10 FT	BBVA, S.A.	dec-15	780	507
BBVA RMBS 1 FTA	BBVA, S.A.	feb-07	2,500	1,206
BBVA RMBS 10 FTA	BBVA, S.A.	jun-11	1,600	1,292
BBVA RMBS 11 FTA	BBVA, S.A.	jun-12	1,400	1,140
BBVA RMBS 12 FTA	BBVA, S.A.	dec-13	4,350	3,685
BBVA RMBS 13 FTA	BBVA, S.A.	jul-14	4,100	3,596
BBVA RMBS 14 FTA	BBVA, S.A.	nov-14	700	569
BBVA RMBS 15 FTA	BBVA, S.A.	may-15	4,000	3,659
BBVA RMBS 16 FT	BBVA, S.A.	may-16	1,600	1,544
BBVA RMBS 17 FT	BBVA, S.A.	nov-16	1,800	-
BBVA RMBS 2 FTA	BBVA, S.A.	mar-07	5,000	4,090
BBVA RMBS 3 FTA	BBVA, S.A.	jul-07	3,000	1,627
BBVA RMBS 5 FTA	BBVA, S.A.	may-08	5,000	2,695
BBVA RMBS 9 FTA	BBVA, S.A.	apr-10	1,295	950
BBVA UNIVERSALIDAD E10	BBVA COLOMBIA, S.A.	mar-09	23	-
BBVA UNIVERSALIDAD E11	BBVA COLOMBIA, S.A.	may-09	15	-
BBVA UNIVERSALIDAD E12	BBVA COLOMBIA, S.A.	ago-09	25	-
BBVA UNIVERSALIDAD E9	BBVA COLOMBIA, S.A.	dec-08	44	-
BBVA UNIVERSALIDAD N6	BBVA COLOMBIA, S.A.	ago-12	67	14
BBVA-5 FTPYME FTA	BBVA, S.A.	nov-06	1,900	30
BBVA-6 FTPYME FTA	BBVA, S.A.	jun-07	1,500	43
BBVA-FINANZIA AUTOS 1 FTA	BBVA, S.A.	apr-07	800	3
BMERCB 13	BBVA BANCOMER, S.A.,INSTIT. BANCA	jun-13	497	-
FTA IM TERRASSA MBS-1	BBVA, S.A.	jul-06	525	53
FTA TDA-22 MIXTO	BBVA, S.A.	dec-04	112	31
FTA TDA-27	BBVA, S.A.	dec-06	275	109
FTA TDA-28	BBVA, S.A.	jul-07	250	128
GAT ICO FTVPO 1, F.T.H	BBVA, S.A.	mar-04	40	127
GC FTGENCAT TARRAGONA 1 FTA	BBVA, S.A.	jun-08	283	50
HIPOCAT 10 FTA	BBVA, S.A.	jul-06	1,500	408
HIPOCAT 11 FTA	BBVA, S.A.	mar-07	1,600	417
HIPOCAT 6 FTA	BBVA, S.A.	jul-03	850	143
HIPOCAT 7 FTA	BBVA, S.A.	jun-04	1,400	296
HIPOCAT 8 FTA	BBVA, S.A.	may-05	1,500	361
HIPOCAT 9 FTA	BBVA, S.A.	nov-05	1,000	277
Instrumentos de Titulización Hip- Juner	BANCO CONTINENTAL, S.A.	dec-07	24	2
TDA 19 FTA	BBVA, S.A.	mar-04	200	36
TDA 20-MIXTO, FTA	BBVA, S.A.	jun-04	100	20
TDA 23 FTA	BBVA, S.A.	mar-05	300	76
TDA TARRAGONA 1 FTA	BBVA, S.A.	dec-07	397	148

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			Millions of Euros
Securitization Fund (consolidated)	Company	Origination Date	Total Securitized Exposures at the Origination Date	Total Securitized Exposures as of December 31, 2016 (*)
FTA TDA13	BBVA, S.A.	dec-00	84	13
FTA TDA-18 MIXTO	BBVA, S.A.	nov-13	91	15

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• (*) Solvency scope.

APPENDIX VI Details of the outstanding subordinated debt and preferred securities issued by the Bank or entities in the Group consolidated as of December 31, 2016, 2015 and 2014

Outstanding as of December 31, 2016, 2015 and 2014 of subordinated issue

		Millions of Euros
Issuer Entity and Issued Date	Currency	December 2016	December 2015	December 2014	Prevailing Interest Rate as of December 31, 2016	Maturity Date
Issues in Euros
BBVA
February-07	EUR	255	255	253	4.50%	16-feb-22
March-08	EUR	125	125	125	6.03%	3-mar-33
July-08	EUR	100	100	100	6.20%	4-jul-23
February-14	EUR	1,500	1,500	1,500	7.00%	Perpetual
February-15	EUR	1,500	1,500	-	6.75%	Perpetual
April-16	EUR	1,000	-	-	8.88%	Perpetual
Various	EUR	277	310	342
Subtotal	EUR	4,756	3,789	2,320
BBVA GLOBAL FINANCE, LTD. (*)
October-01	EUR	-	10	10	6.08%	10-oct-16
October-01	EUR	-	46	46	0.55%	15-oct-16
November-01	EUR	-	53	53	0.63%	02-nov-16
December-01	EUR	-	56	56	0.57%	20-dec-16
Subtotal	EUR	-	165	223
BBVA SUBORDINATED CAPITAL, S.A.U. (*)
October-05	EUR	99	99	96	0.49%	13-oct-20
April-07	EUR	68	68	66	0.57%	4-apr-22
May-08	EUR	50	50	50	3.00%	19-may-23
July-08	EUR	20	20	20	6.11%	22-jul-18
April-14	EUR	1,500	1,500	1,485	3.50%	11-apr-24
Subtotal	EUR	1,737	1,737	1,717
TURKIYE GARANTI BANKASI A.S
February-09	EUR	-	50	-	3.53%	31-mar-21
Subtotal	EUR		50	-
Other		-	1	-
Total issued in Euros		6,493	5,742	4,260

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• (*) The issuances of BBVA Subordinated Capital, S.A.U. and BBVA Global Finance, LTD., are jointly, severally and unconditionally guaranteed by the Bank.

Outstanding as of December 31, 2016, 2015 and 2014 of subordinat

		Millions of Euros
Issuer Entity and Issued Date	Currency	December 2016	December 2015	December 2014	Prevailing Interest Rate as of December 31, 2016	Maturity Date
Issues in foreign currency
BBVA
May-13	USD	1,423	1,378	1,235	9.00%	Perpetual
Subtotal	USD	1,423	1,378	1,235
BBVA GLOBAL FINANCE, LTD. (*)
December-95	USD	189	183	165	7.00%	01-dec-25
Subtotal	USD	189	183	165
BANCO BILBAO VIZCAYA ARGENTARIA, CHILE	USD
Different issues	CLP	609	558	578		Varios
Subtotal	CLP	609	558	578
BBVA BANCOMER, S.A. de C.V.
May-07	USD	474	456	413	6.01%	17-may-22
April-10	USD	947	912	825	7.25%	22-apr-20
March-11	USD	1,184	1,140	1,031	6.50%	10-mar-21
July-12	USD	947	912	825	6.75%	30-sep-22
September-12	USD	474	456	413	6.75%	30-sep-22
November-14	USD	189	182	165	5.35%	12nov-29
Subtotal	USD	4,214	4,058	3,672
December-08	MXN	-	-	160	-
Subtotal	MXN	-	-	160
BBVA URUGUAY
December-14 (**)	USD	14	14	12	4.60%	16-dec-24
Subtotal	USD	14	14	12
BBVA PARAGUAY
November-14	USD	19	18	16	6.75%	05-nov-21
November-15	USD	24	23	-	6.70%	22-nov-22
Subtotal	USD	43	42	16
TEXAS REGIONAL STATUTORY TRUST I
February-04	USD	47	46	41	3.13%	17-mar-34
Subtotal	USD	47	46	41

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• (*) The issuances of BBVA Global Finance, Ltd, are guaranteed (secondary liability) by the Bank
• (**) Subordinated customer deposits

Outstanding as of December 31, 2016, 2015 and 2014 of subordinated issues

		Millions of Euros
Issuer Entity and Issued Date	Currency	December 2016	December 2015	December 2014	Prevailing Interest Rate as of December 31, 2016	Maturity Date
STATE NATIONAL CAPITAL TRUST I
July-03	USD	14	14	12	3.32%	30-sep-33
Subtotal	USD	14	14	12
STATE NATIONAL STATUTORY TRUST II				-
March-04	USD	9	9	8	3.07%	17-mar-34
Subtotal	USD	9	9	8
TEXASBANC CAPITAL TRUST I
June-04	USD	24	23	21	2.88%	23-jul-34
Subtotal	USD	24	23	21
COMPASS BANK
March-05	USD	212	204	182	5.50%	01-apr-20
March-06	USD	65	63	56	5.90%	01-apr-26
September-07	USD	332	321	288	6.40%	01-oct-17
April-15	USD	655	633	-	3.88%	10-apr-25
Subtotal		1,264	1,221	526
BBVA COLOMBIA, S.A.
September-11	COP	33	58	36	10.27%	19-sep-21
September-11	COP	49	48	54	10.52%	19-sep-26
September-11	COP	32	45	35	10.11%	19-sep-18
February-13	COP	63	30	69	9.44%	19-feb-23
February-13	COP	52	31	57	9.72%	19-feb-28
November-14	COP	51	26	55	10.32%	26-nov-34
November-14	COP	28	47	31	10.20%	26-nov-29
Subtotal	COP	309	285	337
April-15	USD	379	366	-	4.88%	21-apr-25
Subtotal	USD	379	366	337
BANCO CONTINENTAL, S.A.
December-06(*)	USD	29	28	25	2.50%	15-feb-17
May-07	USD	19	18	17	6.00%	14-may-27
September-07	USD	19	18	16	2.16%	24-sep-17
February-08	USD	19	18	17	6.47%	28-feb-28
June-08	USD	-	-	25	2.97%	15-jun-18
November-08	USD	-	-	17	3.83%	15-feb-19
October-10 (*)	USD	190	184	165	7.38%	07-oct-40
October-13	USD	43	41	37	6.53%	08-oct-28
September-14	USD	273	274	246	5.25%	22-sep-29
Subtotal	USD	591	582	565
May-07	PEN	11	11	11	5.85%	07-may-22
June-07	PEN	21	20	19	3.47%	18-jun-32
November-07	PEN	19	18	17	3.56%	19-nov-32
July-08	PEN	17	15	15	3.06%	08-jul-23
September-08	PEN	18	17	16	3.09%	09-sep-23
December-08	PEN	11	10	10	4.19%	15-dec-33
Subtotal	PEN	97	90	88
Total issues in foreign currencies(Millions of Euros)		9,228	8,868	7,436

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• (*) Subordinated costumer deposits
.

Outstanding as of December 31, 2016, 2015 and 2014 of preferred issues

	December 2016		December 2015		December 2014
Issuer Entity and Issued Date	Currency	Amount Issued (Millions)	Currency	Amount Issued (Millions)	Currency	Amount Issued (Millions)
BBVA
December 2007	EUR	14	EUR	14	EUR	14
BBVA International, Ltd.
December 2002	-	-	-	-	EUR	9
BBVA Capital Finance, S.A.U.
December 2003	-	-	-	-	EUR	350
July 2004	-	-	-	-	EUR	500
December 2004	-	-	-	-	EUR	1,125
December 2008	-	-	-	-	EUR	1,000
BBVA International Preferred, S.A.U.
September 2005	EUR	86	EUR	86	EUR	85
September 2006	EUR	164	EUR	164	EUR	164
April 2007	USD	569	USD	551	USD	600
July 2007	GBP	36	GBP	43	GBP	31
October 2009	-	-	-	-	EUR	645
October 2009	-	-	-	-	GBP	251
Phoenix Loan Holdings Inc.
November 2000	USD	22	USD	22	USD	21
Caixa Terrasa Societat de Participacion
August 2005	EUR	51	EUR	75	EUR	75
Caixasabadell Preferents, S.A.
July 2006	EUR	53	EUR	90	EUR	90
Others	-	1	-	1	-	-

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APPENDIX VII Consolidated balance sheets held in foreign currency as of December 31, 2016, 2015 and 2014.

	Millions of Euros
December 2016	USD	Mexican Pesos	Turkish Lira	Other Foreign Currencies	Total Foreign Currencies
Assets -
Cash, cash balances at central banks and other demand deposits	15,436	4,947	426	4,547	25,357
Financial assets held for trading	5,048	15,541	732	2,695	24,016
Available-for-sale financial assets	18,525	9,458	4,889	5,658	38,530
Loans and receivables	109,167	41,344	34,425	46,629	231,565
Investments in entities accounted for using the equity method	5	135	-	106	247
Tangible assets	788	2,200	1,376	844	5,207
Other assets	4,482	5,214	5,219	4,358	19,273
Total	153,451	78,839	47,066	64,839	344,194
Liabilities-
Financial liabilities held for trading	3,908	5,957	693	1,426	11,983
Financial liabilities at amortized cost	150,035	53,185	28,467	53,858	285,546
Other liabilities	1,812	8,774	1,418	1,957	13,961
Total	155,755	67,916	30,578	57,241	311,490

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	Millions of Euros
December 2015	USD	Mexican Pesos	Turkish Lira	Other Foreign Currencies	Total Foreign Currencies
Assets -
Cash, cash balances at central banks and other demand deposits	8,257	6,547	485	3,833	19,121
Financial assets held for trading	6,449	16,581	374	3,006	26,410
Available-for-sale financial assets	22,573	10,465	9,691	6,724	49,454
Loans and receivables	115,899	45,396	32,650	44,382	238,328
Investments in entities accounted for using the equity method	216	241	-	40	498
Tangible assets	781	2,406	1,348	762	5,296
Other assets	2,018	5,054	2,320	3,817	13,209
Total	156,193	86,690	46,868	62,564	352,315
Liabilities-
Financial liabilities held for trading	5,010	5,303	513	1,925	12,750
Financial liabilities at amortized cost	152,383	60,800	30,267	50,004	293,455
Other liabilities	2,001	9,038	1,393	2,132	14,564
Total	159,394	75,141	32,173	54,061	320,769

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	Millions of Euros
December 2014	USD	Mexican Pesos	Turkish Lira	Other Foreign Currencies	Total Foreign Currencies
Assets -
Cash, cash balances at central banks and other demand deposits	4,905	5,995	-	8,516	19,416
Financial assets held for trading	5,727	16,745	-	4,073	26,545
Available-for-sale financial assets	13,590	11,623	-	9,565	34,779
Loans and receivables	79,935	40,641	-	50,804	171,380
Investments in entities accounted for using the equity method	5	227	-	3,700	3,931
Tangible assets	726	1,894	-	1,076	3,696
Other assets	3,874	3,861	-	3,934	11,669
Total	108,762	80,985	-	81,668	271,415
Liabilities-
Financial liabilities held for trading	3,828	5,776	-	1,907	11,511
Financial liabilities at amortized cost	106,582	57,856	-	61,404	225,841
Other liabilities	1,612	8,620		2,657	12,889
Total	112,021	72,252	-	65,968	250,241

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APPENDIX VIII Consolidated income statements for the first and second half of 2016 and 2015

	Millions of Euros
	Six months ended June 30, 2016	Six months ended December 31, 2016	Six months ended June 30, 2015	Six months ended December 31, 2015
Interest income	13,702	14,006	10,665	14,118
Interest expenses	(5,338)	(5,310)	(3,570)	(5,191)
NET INTEREST INCOME	8,365	8,694	7,096	8,926
Dividend income	301	166	236	179
Share of profit or loss of entities accounted for using the equity method	1	24	195	(21)
Fee and commission income	3,313	3,491	2,801	3,539
Fee and commission expenses	(963)	(1,123)	(682)	(1,047)
Gains or (-) losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss. net	683	692	649	406
Gains or (-) losses on financial assets and liabilities held for trading, net	106	142	161	(570)
Gains or (-) losses on financial assets and liabilities designated at fair value through profit or loss, net	24	90	17	109
Gains or (-) losses from hedge accounting, net	(171)	95	-	93
Exchange differences (net)	533	(61)	620	545
Other operating income	715	557	546	769
Other operating expenses	(1,186)	(942)	(911)	(1,374)
ncome on insurance and reinsurance contracts	1,958	1,694	1,725	1,953
Expenses on insurance and reinsurance contracts	(1,446)	(1,099)	(1,233)	(1,366)
GROSS INCOME	12,233	12,420	11,219	12,143
Administration costs	(5,644)	(5,722)	(4,927)	(5,909)
Personnel expenses	(3,324)	(3,398)	(2,888)	(3,385)
Other administrative expenses	(2,319)	(2,325)	(2,039)	(2,524)
Depreciation	(689)	(737)	(572)	(700)
Provisions or (-) reversal of provisions	(262)	(924)	(392)	(339)
Impairment or (-) reversal of impairment on financial assets not measured at fair value through profit or loss	(2,110)	(1,691)	(2,137)	(2,135)
NET OPERATING INCOME	3,528	3,346	3,192	3,059
Impairment or (-) reversal of impairment of investments in subsidaries, joint ventures and associates	-	-	-	-
Impairment or (-) reversal of impairment on non-financial assets	(99)	(422)	(128)	(145)
Gains (losses) on derecognized of non financial assets and subsidiaries, net	37	33	23	(2,158)
Negative goodwill recognised in profit or loss	-	-	22	4
Profit or (-) loss from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations	(75)	44	791	(57)
OPERATING PROFIT BEFORE TAX	3,391	3,001	3,899	704
Tax expense or (-) income related to profit or loss from continuing operation	(920)	(779)	(941)	(333)
PROFIT FROM CONTINUING OPERATIONS	2,471	2,222	2,958	370
Profit from discontinued operations (net)	-	-	-	-
PROFIT	2,471	2,222	2,958	370
Attributable to minority interest (non-controlling interests)	639	579	200	486
Attributable to owners of the parent	1,832	1,643	2,759	(117)

	Millions of Euros
	PSix months ended June 30, 2016	Six months ended December 31, 2016	Six months ended June 30, 2015	Six months ended December 31, 2015
EARNINGS PER SHARE
Basic earnings per share from continued operations	0.26	0.23	0.41	(0.03)
Diluted earnings per share from continued operations	0.26	0.23	0.41	(0.03)
Basic earnings per share from discontinued operations	-	-	-	-
Diluted earnings per share from discontinued operation	-	-	-	-

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APPENDIX IX Financial Statements of Banco Bilbao Vizcaya Argentaria, S.A.

Balance sheets as of December 31, 2016 and 2015 of BBVA, S.A.

ASSETS	December 2016	December 2015
CASH, CASH BALANCES AT CENTRAL BANKS AND OTHER DEMAND DEPOSITS	15,855	11,191
FINANCIAL ASSETS HELD FOR TRADING	57,440	58,606
Derivatives	42,023	40,499
Equity instruments	3,873	3,974
Debt securities	11,544	14,133
Loans and advances to central banks	-	-
Loans and advances to credit institutions	-	-
Loans and advances to customers	-	-
OTHER FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS	-	-
AVAILABLE-FOR-SALE FINANCIAL ASSETS	29,004	50,601
Equity instruments	3,506	4,018
Debt securities	25,498	46,583
LOANS AND RECEIVABLES	251,487	226,781
Debt securities	11,001	4,213
Loans and advances to central banks	-	-
Loans and advances to credit institutions	26,596	25,146
Loans and advances to customers	213,890	197,422
HELD-TO-MATURITY INVESTMENTS	11,424	-
HEDGING DERIVATIVES	1,586	1,714
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK	17	54
INVESTMENTS IN SUBSIDARIES, JOINT VENTURES AND ASSOCIATES	30,218	31,599
Group entities	29,823	31,185
Joint ventures	18	18
Associates	377	396
TANGIBLE ASSETS	1,856	1,521
Property, plants and equipment	1,845	1,516
For own use	1,845	1,516
Other assets leased out under an operating lease	-	-
Investment properties	11	5
INTANGIBLE ASSETS	942	853
Goodwill	-	-
Other intangible assets	942	853
TAX ASSETS	12,394	8,194
Current	756	652
Deferred	11,638	7,541
OTHER ASSETS	3,709	3,850
Insurance contracts linked to pensions	2,426	2,151
Inventories	-	-
Rest	1,283	1,699
NON-CURRENT ASSETS AND DISPOSAL GROUPS HELD FOR SALE	2,515	2,340
TOTAL ASSETS	418,447	397,303

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Balance sheets as of December 31, 2016 and 2015 of BBVA, S.A.

LIABILITIES AND EQUITY	December 2016	December 2015
FINANCIAL LIABILITIES HELD FOR TRADING	48,265	46,973
Trading Derivatives	40,951	39,720
Short positions	7,314	7,253
Deposits from central banks	-	-
Deposits from credit institutions	-	-
Customer deposits	-	-
Debt certificates	-	-
Other financial liabilities	-	-
OTHER FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS	-	-
FINANCIAL LIABILITIES AT AMORTIZED COST	319,884	303,095
Deposits from central banks	26,629	19,642
Deposits from credit institutions	44,977	55,462
Customer deposits	207,946	190,222
Debt certificates	33,174	30,966
Other financial liabilities	7,158	6,803
Subordinated liabilities	9,209	8,295
HEDGING DERIVATIVES	1,488	1,542
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK	-	-
PROVISIONS	8,917	6,209
Provisions for pensions and similar obligations	5,271	5,177
Other long term employee benefits	32	-
Provisions for taxes and other legal contingencies	-	-
Provisions for contingent risks and commitments	658	263
Other provisions	2,956	769
TAX LIABILITIES	1,415	1,225
Current	127	24
Deferred	1,288	1,200
OTHER LIABILITIES	2,092	1,439
LIABILITIES INCLUDED IN DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE	-	-
TOTAL LIABILITIES	382,061	360,483

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	Millions of Euros
LIABILITIES AND EQUITY (Continued)	December 2016	December 2015
SHAREHOLDERS’ FUNDS	36,748	36,438
Capital	3,218	3,120
Paid up capital	3,218	3,120
Unpaid capital which has been called up	-	-
Share premium	23,992	23,992
Equity instruments issued other than capital	46	28
Equity component of compound financial instruments	-	-
Other equity instruments issued	46	28
Other equity	-	-
Retained earnings	-	-
Revaluation reserves	20	22
Other reserves	9,346	7,788
Reserves or accumulated losses of investments in subsidaries, joint ventures and associates	-	-
Other	9,346	7,788
Less: Treasury shares	(23)	(19)
ACCUMULATED OTHER COMPREHENSIVE INCOME	(362)	381
Items that will not be reclassified to profit or loss	(43)	(23)
Actuarial gains or (-) losses on defined benefit pension plans	(43)	(23)
Non-current assets and disposal groups classified as held for sale	-	-
Other adjustments	-	-
Items that may be reclassified to profit or loss	(319)	404
Hedge of net investments in foreign operations (effective portion)	-	-
Foreign currency translation	13	21
Hedging derivatives. Cash flow hedges (effective portion)	(127)	(75)
Available-for-sale financial assets	(205)	459
Non-current assets and disposal groups classified as held for sale	-	-
TOTAL EQUITY	36,386	36,820
TOTAL EQUITY AND TOTAL LIABILITIES	418,447	397,303

	Millions of Euros
MEMORANDUM ITEM	December 2016	December 2015
Financial guarantees given	39,704	39,850
Contingent commitments	71,162	58,255

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	Millions of Euros
Income Statements for the year ended December 31, 2016 and 2015 of BBVA, S.A	December 2016	December 2015
INTEREST AND SIMILAR INCOME	6,236	6,506
INTEREST AND SIMILAR EXPENSES	(2,713)	(3,167)
NET INTEREST INCOME	3,523	3,339
DIVIDEND INCOME	2,854	2,117
SHARE OF PROFIT OR LOSS OF ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD	-	-
FEE AND COMMISSION INCOME	1,886	1,751
FEE AND COMMISSION EXPENSES	(353)	(289)
NET GAINS (LOSSES) ON FINANCIAL ASSETS AND LIABILITIES	-	-
NET GAINS (LOSSES) ON FINANCIAL ASSETS AND LIABILITIES	(70)	151
GAINS OR (-) LOSSES ON DERECOGNITION OF FINANCIAL ASSETS AND LIABILITIES NOT MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS, NET	955	775
GAINS OR (-) LOSSES FROM HEDGE ACCOUNTING, NET	(62)	(16)
EXCHANGE DIFFERENCES (NET)	305	224
OTHER OPERATING INCOME	140	114
OTHER OPERATING EXPENSES	(504)	(465)
GROSS INCOME	8,674	7,701
ADMINISTRATION COSTS	(4,247)	(3,756)
Personnel expenses	(2,502)	(2,198)
General and administrative expenses	(1,745)	(1,558)
DEPRECIATION	(575)	(519)
PROVISIONS OR (-) REVERSAL OF PROVISIONS	(1,187)	(651)
IMPAIRMENT OR (-) REVERSAL OF IMPAIRMENT ON FINANCIAL ASSETS NOT MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS	(949)	(1,304)
Financial assets measured at cost	(12)	(13)
Available-for-sale financial assets	(180)	-
Loans and receivables	(757)	(1,291)
Held to maturity investments	-	-
NET OPERATING INCOME	1,716	1,471
IMPAIRMENT OR (-) REVERSAL OF IMPAIRMENT OF INVESTMENTS IN SUBSIDARIES, JOINT VENTURES AND ASSOCIATES	(147)	835
IMPAIRMENT OR (-) REVERSAL OF IMPAIRMENT ON NON-FINANCIAL ASSETS	(16)	(22)
Tangible assets	(16)	(22)
Intangible assets	-	-
Other assets	-	-
GAINS (LOSSES) ON DERECOGNIZED ASSETS NOT CLASSIFIED AS NON-CURRENT ASSETS HELD FOR SALE	12	8
NEGATIVE GOODWILL RECOGNISED IN PROFIT OR LOSS	-	-
PROFIT OR (-) LOSS FROM NON-CURRENT ASSETS AND DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE NOT QUALIFYING AS DISCONTINUED OPERATIONS	(73)	760
OPERATING PROFIT BEFORE TAX	1,492	3,052
TAX EXPENSE OR (-) INCOME RELATED TO PROFIT OR LOSS FROM CONTINUING OPERATION	170	(188)
PROFIT FROM CONTINUING OPERATIONS	1,662	2,864
PROFIT FROM DISCONTINUED OPERATIONS (NET)	-	-
PROFIT	1,662	2,864

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Statements of Recognized Income and Expenses for the year ended December 31, 2016 and 2015 of BBVA, S.A

Statements of Recognized Income and Expenses for the year ended December 31, 2016 and 2015 of BBVA, S.A	December 2016	December 2015
PROFIT RECOGNIZED IN INCOME STATEMENT	1,662	2,864
OTHER RECOGNIZED INCOME (EXPENSES)	(744)	(1,309)
ITEMS NOT SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT	(21)	(2)
ITEMS SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT	(723)	(1,307)
Hedge of net investments in foreign operations (effective portion)	-	-
Foreign currency translation	(11)	13
Translation gains or (-) losses taken to equity	18	30
Transferred to profit or loss	(29)	(17)
Other reclassifications	-	-
Cash flow hedges (effective portion)	(74)	11
Valuation gains or (-) losses taken to equity	(69)	20
Transferred to profit or loss	(5)	(9)
Transferred to initial carrying amount of hedged items	-	-
Other reclassifications	-	-
Available-for-sale financial assets	(583)	(1,890)
Valuation gains/(losses)	217	(723)
Amounts reclassified to income statement	(800)	(1,167)
Other reclassifications	-	-
Non-current assets held for sale	-	-
Valuation gains/(losses)	-	-
Amounts reclassified to income statement	-	-
Other reclassifications	-	-
Income tax	(55)	560
TOTAL RECOGNIZED INCOME/EXPENSES	918	1,555

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Statement of Changes in Equity for the year ended December 31, 2016 of BBVA, S.A.

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Statement of Changes in Equity for the year ended December 31, 2015 of BBVA, S.A.

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	Millions of Euros
Cash Flows Statements for the year ended December 31, 2016 and 2015 of BBVA, S.A	December 2016	December 2015
CASH FLOW FROM OPERATING ACTIVITIES (1)	6,281	4,709
Profit for the year	1,662	2,864
Adjustments to obtain the cash flow from operating activities	1,811	(1,769)
Depreciation	574	519
Other adjustments	1,237	(2,288)
Net increase/decrease in operating assets	(16,227)	11,515
Financial assets held for trading	1,166	5,889
Other financial assets designated at fair value through profit or loss	-	-
Available-for-sale financial assets	21,597	1,564
Loans and receivables	(24,706)	3,861
Other operating assets	(14,284)	201
Net increase/decrease in operating liabilities	19,205	(8,090)
Financial liabilities held for trading	1,292	(4,003)
Other financial liabilities designated at fair value through profit or loss	-	-
Financial liabilities at amortized cost	15,847	(2,975)
Other operating liabilities	2,066	(1,112)
Collection/Payments for income tax	(170)	189
CASH FLOWS FROM INVESTING ACTIVITIES (2)	(1,048)	(2,259)
Investment	(3,168)	(5,625)
Tangible assets	(170)	(211)
Intangible assets	(320)	(298)
Investments	(246)	(4,114)
Subsidiaries and other business units	-	-
Non-current assets held for sale and associated liabilities	(674)	(1,002)
Held to maturity investments	(1,758)	-
Other settlements related to investing activities	-	-
Divestments	2,120	3,366
Tangible assets	20	12
Intangible assets	-	-
Investments	93	62
Subsidiaries and other business units	-	-
Non-current assets held for sale and associated liabilities	511	1,249
Held to maturity investments	64	-
Other settlements related to investing activities	175	2,043

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	Millions of Euros
CASH FLOWS STATEMENTS (Continued)	December 2016	December 2015
CASH FLOWS FROM FINANCING ACTIVITIES (3)	(501)	(302)
Investment	(3,247)	(4,124)
Dividends	(1,497)	(916)
Subordinated liabilities	(180)	(767)
Common stock amortization	-	-
Treasury stock acquisition	(1,570)	(2,297)
Other items relating to financing activities	-	(144)
Divestments	2,746	3,822
Subordinated liabilities	1,000	1,500
Common stock increase	-	-
Treasury stock disposal	1,574	2,322
Other items relating to financing activities	172	-
EFFECT OF EXCHANGE RATE CHANGES (4)	(67)	(302)
NET INCREASE/DECREASE IN CASH OR CASH EQUIVALENTS (1+2+3+4)	4,665	1,846
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR	11,191	9,262
CASH AND CASH EQUIVALENTS AT END OF THE YEAR	15,856	11,108

	Millions of Euros
COMPONENTS OF CASH AND EQUIVALENTS AT END OF THE YEAR	December 2016	December 2015
Cash	879	825
Balance of cash equivalent in central banks	14,913	10,283
Other financial assets	63	-
Less: Bank overdraft refundable on demand	-	-
TOTAL CASH AND CASH EQUIVALENTS AT END OF THE YEAR	15,856	11,108

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APPENDIX X Information on data derived from the special accounting registry

Information required pursuant to Circular 5/2011 of the Bank of Spain is indicated as follows.

a) Mortgage market policies and procedures

The Bank has express policies and procedures in place regarding its activities in the mortgage market, which provide for full compliance with applicable regulations.

The mortgage origination policy is based in principles focused on assessing the adequate ratio between the amount of the loan, and the payments, and the income of the applicant. Applicants must in all cases prove sufficient repayment ability (present and future) to meet their repayment obligations, for both the mortgage debt and for other debts detected in the financial system. Therefore, the applicant’s repayment ability is a key aspect within the credit decision-making tools and retail risk acceptance manuals, and has a high weighting in the final decision.

During the mortgage risk transaction analysis process, documentation supporting the applicant’s income (payroll, etc.) is required, and the applicant’s position in the financial system is checked through automated database queries (internal and external). This information is used for calculation purposes in order to determine the level of indebtedness/compliance with the remainder of the system. This documentation is kept in the transaction’s file.

In addition, the mortgage origination policy assesses the adequate ratio between the amount of the loan and the appraisal value of the mortgaged asset. The policy also establishes that the property to be mortgaged be appraised by an independent appraisal company as established by Circular 3/2010 and Circular 4/2016. BBVA selects those companies whose reputation, standing in the market and independence ensure that their appraisals adapt to the market reality in each region. Each appraisal is reviewed and checked before the loan is granted by BBVA staff and, in those cases where the loan is finally granted, it is kept in the transaction’s file.

As for issues related to the mortgage market, the Group’s Finance Division annually defines the wholesale finance issue strategy, and more specifically mortgage bond issues, such as mortgage covered bonds or mortgage securitization. The Assets and Liabilities Committee (“ALCO”) tracks the budget monthly. The volume and type of assets in these transactions is determined in accordance with the wholesale finance plan, the trend of the Bank’s “Loans and receivables” outstanding balances and market conditions.

The Board of the Bank authorizes each of the issues of Mortgage Transfer Certificate and/or Mortgage Participation issued by BBVA to securitize loans and mortgage loans, Likewise, the Board of Directors authorize, under the power delegated by the Annual General Meeting held on March 13, 2015 under item three of the agenda, the establishment of a Base Prospectus for the issue of fixed-income securities through which the mortgage-covered bonds are implemented.

As established in article 24 of Royal Decree 716/2009, the volume of outstanding mortgage-covered bonds issued by a bank may not exceed 80% of a calculation base determined by adding the outstanding principal of all the loans and mortgage loans in the bank’s portfolio that are eligible and are not covered by the issue of Mortgage Bonds, Mortgage Participations or Mortgage Transfer Certificates. For these purposes, in accordance with the aforementioned Royal Decree 716/2009, in order to be eligible, loans and mortgage loans must, on a general basis: (i) be secured by a first mortgage on the freehold; (ii) the loan’s amount may not exceed 80% of the appraisal value for home mortgages, and 60% for other mortgage lending; (iii) be established on assets exclusively and wholly owned by the mortgagor; (iv) have been appraised by an independent appraisal company unrelated to the Group and authorized by the Bank of Spain; and (v) the mortgaged property must be covered at least by a current damage insurance policy.

The Bank has set up a series of controls for mortgage covered bonds, which regularly control the total volume of issued mortgage covered bonds issued and the remaining eligible collateral, to avoid exceeding the maximum limit set by Royal Decree 716/2009, and outlined in the preceding paragraph. In the case of securitizations, the preliminary portfolio of loans and mortgage loans to be securitized is checked according to an agreed procedures engagement, by the Bank’s external auditor as required by the Spanish Securities and Exchange Commission. There is also a series of filters through which some mortgage loans and credits are excluded in accordance with legal, commercial and risk concentration criteria.

b) Quantitative information on activities in the mortgage market

The quantitative information on activities in the mortgage market required by Bank of Spain Circular 5/2011 is shown below.

b,1) Ongoing operations

		Millions of Euros
Mortgage loans. Eligibility for the purpose of the mortgage market		2016	2015
Nominal value of outstanding loans and mortgage loans	(A)	113,977	98,555
Minus: Nominal value of all outstanding loans and mortgage loans that form part of the portfolio, but have been mobilized through mortgage bond holdings or mortgage transfer certificates.	(B)	(33,677)	(25,650)
Nominal value of outstanding loans and mortgage loans, excluding securitized loans	(A)-(B)	80,300	72,905
Of which:			-
Loans and mortgage loans which would be eligible if the calculation limits set forth in Article 12 of Spanish Royal Decree 716/2009 were not applied.	(C)	46,987	40,373
Minus: Loans and mortgage loans which would be eligible but, according to the criteria set forth in Article 12 of Spanish Royal Decree 716/2009, cannot be used to collateralize any issuance of mortgage bonds.	(D)	(2,268)	(2,213)
Eligible loans and mortgage loans that, according to the criteria set forth in Article 12 of Spanish Royal Decree 716/2009, can be used as collateral for the issuance of mortgage bonds	(C)-(D)	44,719	38,160
Issuance limit: 80% of eligible loans and mortgage loans that can be used as collateral	(E )	35,775	30,528
Issued Mortgage-covered bonds	(F)	29,085	28,362
Outstanding Mortgage-covered bonds		24,670	25,220
Capacity to issue mortgage-covered bonds	(E)-(F)	6,690	2,166
Memorandum items:			-
Percentage of overcollateralization across the eligible used portfolio		276%	257%
Percentage of overcollateralization across the eligible used portfolio		154%	135%
Nominal value of available sums (committed and unused) from all loans and mortgage loans.		2,917	1,999
Of which:			-
Potentially eligible		2,237	1,361
Ineligible		680	638
Nominal value of all loans and mortgage loans that are not eligible, as they do not meet the thresholds set in Article 5,1 of Spanish Royal Decree 716/2009, but do meet the rest of the eligibility requirements indicated in Article 4 of the Royal Decree.		25,282	25,350
Nominal value of the replacement assets subject to the issue of mortgage-covered bonds.		-	-

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		Millions of Euros
Mortgage loans. Eligibility for the purpose of the mortgage market		December 2016	December 2015
Total loans	(1)	113,977	98,555
Issued mortgage participations	(2)	2,865	-
Of which: recognized on the balance sheet		695	-
Issued mortgage transfer certificates	(3)	30,812	25,650
Of which: recognized on the balance sheet		28,778	25,612
Mortgage loans as collateral of mortgages bonds	(4)		-
Loans supporting the issuance of mortgage-covered bonds	1-2-3-4	80,300	72,905
Non elegible loans		33,313	32,532
Comply requirements to be elegible except the limit provided for under the article 5,1 of the Spanish Royal Decree 716/2009		25,282	25,350
Rest		8,031	7,182
Elegible loans		46,987	40,373
That can not be used as collateral for issuances		2,268	2,213
That can be used as collateral for issuances		44,719	38,160
Loans used to collateralize mortgage bonds		-	-
Loans used to collateralize mortgage-covered bonds		44,719	38,160

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		Millions of Euros
	2016			2015
Mortgage loans. Classification of the nominal values according to different characteristics	Total mortgage loans	Eligible Loans(*)	Elegibles that can be used as collateral for issuances (**)	Total mortgage loans	Eligible Loans(*)	Elegibles that can be used as collateral for issuances (**)
TOTAL	80,300	46,987	44,719	72,905	40,373	38,160
By source of the operations
Originated by the bank	74,220	42,641	40,451	64,852	34,629	32,477
Subrogated by other institutions	904	685	678	554	459	457
Rest	5,176	3,661	3,590	7,499	5,285	5,226
By Currency
In euros	79,422	46,594	44,341	72,331	40,013	37,811
In foreign currency	878	393	378	574	360	349
By payment situation
Normal payment	61,264	40,685	40,389	56,192	34,987	34,330
Other situations	19,036	6,302	4,330	16,713	5,386	3,830
By residual maturity
Up to 10 years	19,762	12,722	11,765	18,457	11,536	10,402
10 to 20 years	30,912	22,417	21,646	24,926	17,896	17,317
20 to 30 years	19,899	9,375	8,910	18,399	8,379	7,963
Over 30 years	9,727	2,473	2,398	11,123	2,562	2,478
By Interest Rate
Fixed rate	4,460	1,680	1,559	3,169	944	759
Floating rate	75,840	45,307	43,160	69,736	39,429	37,401
Mixed rate	-	-	-	-	-	-
By Target of Operations
For business activity	20,913	8,614	6,926	20,741	7,690	5,912
From wich: public housing	6,958	1,894	740	8,623	2,072	768
For households	59,387	38,373	37,793	52,164	32,683	32,248
By type of guarantee
Secured by completed assets/buildings	75,806	46,240	44,237	66,807	39,203	37,461
Residential use	61,338	39,494	38,139	56,563	34,269	33,066
From wich: public housing	5,607	3,338	3,213	5,607	3,354	3,104
Commercial	5,453	2,563	2,289	9,645	4,574	4,046
Other	9,015	4,183	3,809	599	360	349
Secured by assets/buildings under construction	1,914	413	295	2,125	367	277
Residential use	1,457	290	187	1,642	235	158
From wich: public housing	57	11	10	84	5	4
Commercial	286	61	53	483	132	119
Other	171	62	55	-	-	-
Secured by land	2,580	334	187	3,973	803	422
Urban	-	-	-	1,590	334	105
Non-urban	2,580	334	187	2,383	469	317

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• (*) Not taking into account the thresholds established by Article 12 of Spanish Royal Decree 716/2009
• (**) Taking into account the thresholds established by Article 12 of Spanish Royal Decree 716/2009

	Millions of Euros
	Loan to Value (Last available appraisal risk)
December 2016. Nominal value of the total mortgage loans	Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80%	Total
Home mortgages	12,883	15,921	14,047	-	42,851
Other mortgages	2,150	1,986			4,136
Total	15,033	17,907	14,047	-	46,987

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	Millions of Euros
	Loan to Value (Last available appraisal risk)
December 2015. Nominal value of the total mortgage loans	Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80%	Total
Home mortgages	9,364	12,730	12,690	-	34,784
Other mortgages	2,657	2,932			5,589
Total	12,021	15,662	12,690	-	40,373

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	Millions of Euros
	2016		2015
Elegible and non elegible mortgage loans. Changes of the nominal values in the period	Eligible (*)	Non eligible	Eligible (*)	Non eligible
Balance at the begining	40,373	32,532	42,920	36,907
Retirements	7,458	11,489	5,772	9,218
Held-to-maturity cancellations	3,552	2,084	4,175	2,487
Anticipated cancellations	1,479	1,971	1,236	2,268
Subrogations to other institutions	37	30	23	20
Rest	2,390	7,404	338	4,443
Additions	14,072	12,270	3,225	4,843
Originated by the bank	10,051	9,523	2,529	3,794
Subrogations to other institutions	283	162	14	12
Rest	3,738	2,585	682	1,037
Balance at the end	46,987	33,313	40,373	32,532

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• (*) Not taking into account the thresholds established by Article 12 of Spanish Royal Decree 716/2009

	Millions of Euros
Mortgage loans supporting the issuance of mortgage-covered bonds. Nominal value.	December 2016	December 2015
Potentially eligible	2,237	1,361
Ineligible	680	638
Total	2,917	1,999

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b,2) Liabilities operations

	Millions of Euros
	December 2016		December 2015
Issued Mortgage Bonds	Nominal value	Average residual maturity	Nominal value	Average residual maturity
Mortgage bonds	-		-
Mortgage-covered bonds (*)	29,085		28,362
Of which:Non recognized as liabilities on balance	4,414		3,142
Of Which: outstanding	24,670		25,220
Debt securities issued through public offer	8,272		4,500
Residual maturity up to 1 year	-		6,772
Residual maturity over 1 year and less than 2 years	-		-
Residual maturity over 3 years and less than 5 years	4,801		2,051
Residual maturity over 5 years and less than 10 years	7,500		8,000
Residual maturity over 10 years	200		200
Debt securities issued without public offer	4,321		2,765
Residual maturity up to 1 year	150		-
Residual maturity over 1 year and less than 2 years	-		150
Residual maturity over 2 years and less than 3 years	-		-
Residual maturity over 3 years and less than 5 years	1,550		-
Residual maturity over 5 years and less than 10 years	2,500		2,500
Residual maturity over 10 years	121		115
Deposits	3,991		4,074
Residual maturity up to 1 year	460		1,064
Residual maturity over 1 year and less than 2 years	791		460
Residual maturity over 2 years and less than 3 years	380		639
Residual maturity over 3 years and less than 5 years	671		422
Residual maturity over 5 years and less than 10 years	839		849
Residual maturity over 10 years	850		640
Mortgage participations	695	196	-
Mortgage transfer certificates	28,778	286	25,612	293
Issued through public offer	28,778	286	25,612	293
Issued without public offer	-		-	-

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• (*) Including mortgage-covered bonds hold by the BBVA Group's companies

Given the characteristics of the type of covered bonds issued by the Bank, there is no substituting collateral related to these issues.

The Bank does not hold any derivative financial instruments relating to mortgage bond issues, as defined in the aforementioned Royal Decree.

APPENDIX XI Quantitative information on refinancing and restructuring operations and other requirement under Bank of Spain Circular 6/2012

Quantitative information on refinancing and restructuring operations

The breakdown of refinancing and restructuring operations as of December 31, 2016 and 2015 is as follows:

	DECEMBER 2016 BALANCE OF FORBEARANCE (Millions of Euros)
	TOTAL
	Unsecured loans		Secured loans				Accumulated impairment or accumulated losses in fair value due to credit risk
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Maximum amount of secured loans that can be considered
					Real estate mortgage secured	Rest of secured loans
Credit institutions	-	-	-	-	-	-	-
General Governments	24	8	112	711	98	584	6
Other financial corporations and individual entrepeneurs (financial activity)	3,349	59	71	18	5	-	8
Non-financial corporations and individual entrepeneurs (non-financial activity)	125,328	5,057	25,327	9,643	4,844	124	5,310
Of which: financing the construction and property (including land)	1,519	496	5,102	4,395	694	-	2,552
Rest homes (*)	116,961	1,550	103,868	9,243	7,628	18	1,474
Total	245,662	6,674	129,378	19,615	12,576	726	6,798

	Of which: IMPAIRED
	Unsecured loans		Secured loans				Accumulated impairment or accumulated losses in fair value due to credit risk
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Maximum amount of secured loans that can be considered
					Real estate mortgage secured	Rest of secured loans
Credit institutions	-	-	-	-	-	-	-
General Governments	12	8	53	33	27	-	4
Other financial corporations and individual entrepeneurs (financial activity)	131	8	22	2	0	-	5
Non-financial corporations and individual entrepeneurs (non-financial activity)	103,310	2,857	16,327	6,924	3,002	53	4,986
Of which: financing the construction and property (including land)	1,191	304	4,188	3,848	494	-	2,499
Rest homes (*)	72,199	672	47,767	4,366	3,271	3	1,285
Total	175,652	3,545	64,169	11,325	6,301	57	6,281

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• (a) Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.
• (*) Number of operations does not include Garanti Bank.

	DECEMBER 2015 BALANCE OF FORBEARANCE (Millions of Euros)
	TOTAL
	Unsecured loans		Secured loans				Accumulated impairment or accumulated losses in fair value due to credit risk
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Maximum amount of secured loans that can be considered
					Real estate mortgage secured	Rest of secured loans
Credit institutions	-	-	-	-	-	-	-
General Governments	71	33	75	794	75	1,397	9
Other financial corporations and individual entrepeneurs (financial activity)	261	49	97	14	16	-	174
Non-financial corporations and individual entrepeneurs (non-financial activity)	43,807	7,184	28,897	12,754	4,866	854	6,104
Of which: financing the construction and property (including land)	2,899	1,109	8,042	5,842	2,917	8	3,072
Rest homes (*)	182,924	2,291	124,473	10,882	9,723	22	1,705
Total	227,063	9,557	153,542	24,443	14,681	2,273	7,993

	Of which: IMPAIRED
	Unsecured loans		Secured loans				Accumulated impairment or accumulated losses in fair value due to credit risk
	Number of operations	Gross carrying amount	Number of operations	Gross carrying amount	Maximum amount of secured loans that can be considered
					Real estate mortgage secured	Rest of secured loans
Credit institutions	-	-	-	-	-	-	-
General Governments	31	13	7	5	3	-	6
Other financial corporations and individual entrepeneurs (financial activity)	113	30	74	8	5	-	139
Non-financial corporations and individual entrepeneurs (non-financial activity)	17,499	2,895	16,565	8,177	1,707	449	5,533
Of which: financing the construction and property (including land)	2,319	834	5,543	4,451	1,836	7	2,910
Rest homes (*)	80,652	772	44,195	4,172	2,897	11	1,454
Total	98,295	3,710	60,841	12,361	4,612	460	7,132

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• a) Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.
• b) Number of operations does not include Garanti Bank.

In addition to the restructuring and refinancing transactions mentioned in this section, loans that were not considered impaired or renegotiated have been modified based on the criteria set out in paragraph 59 (c) of IAS 39. These loans have not been classified as renegotiated or impaired, since they were modified for commercial or competitive reasons (for instance, to improve our relationship with the client) rather than for economic or legal reasons relating to the borrower’s financial situation.

The table below provides a roll forward of refinanced assets during 2016

	Normal		Impaired		TOTAL
Refinanced assets Roll forward December 2016	Risk	Coverage	Risk	Coverage	Risk	Coverage
Balance at the beginning	17,929	861	16,071	7,132	34,000	7,993
(+) Additions	2,523	279	1,655	712	4,178	991
(-) Decreases (payments or repayments)	(2,788)	(366)	(1,754)	(835)	(4,542)	(1,201)
(-) Foreclosures	(3)	-	(174)	(84)	(177)	(84)
(-) Write-offs	(52)	(1)	(1,230)	(841)	(1,282)	(842)
(+)/(-) Other	(6,191)	(256)	301	196	(5,890)	(60)
Ending Balance	11,418	517	14,869	6,281	26,288	6,798

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The table below provides a breakdown by segments of the forbearance operations (net of provisions) as of December 2016 and 2015:

	Millions of Euros
Forbereance operations. Breakdown by segments	December 2016	December 2015
Credit institutions
Central governments	713	818
Other financial corporations and individual entrepeneurs (financial activity)	69	(112)
Non-financial corporations and individual entrepeneurs (non-financial activity)	9,390	13,833
Of which: Financing the construction and property development (including land)	2,339	3,879
Households	9,319	11,468
Total carrying amount	19,491	26,007
Financing classified as non-current assets and disposal groups held for sale	-	-

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NPL ratio by type of renegotiated loan

The non performing ratio of the renegotiated portfolio is defined as the impaired balance of renegotiated loans that shows signs of difficulties as of the closing of the reporting period, divided by the total payment outstanding in that portfolio.

As of December 31, 2016, the non performing ratio for each of the portfolios of renegotiated loans is as follows:

December 2016. NPL ratio renegotiated loan portfolio	Ratio of Impaired loans - Past due
Central governments	6%
Commercial	67%
Of which: Construction and developer	85%
Other consumer	39%

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56% of the renegotiated loans classified as impaired was for reasons other than default (delinquency).

b) Quantitative information on the concentration of risk by activity and guarantees

Loans and advances to customers by activity (carrying amount)

December 2016	Total (*)	Of which: Mortgage loans	Of which: Secured loans	Collateralized Credit Risk. Loan to value
				Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80% but less than or equal to 100%	Over 100%
General Governments	34,820	4,722	3,700	380	715	1,266	2,740	3,320
Other financial institutions	17,181	800	8,168	650	464	319	6,846	690
Non-financial institutions and individual entrepreneurs	183,871	47,105	22,663	17,000	13,122	11,667	14,445	13,533
Construction and property development	19,283	12,888	1,736	3,074	4,173	3,843	2,217	1,316
Construction of civil works	8,884	1,920	478	508	547	469	379	494
Other purposes	155,704	32,297	20,449	13,417	8,402	7,356	11,850	11,722
Large companies	107,550	16,041	16,349	7,311	5,149	4,777	7,160	7,993
SMEs (**) and individual entrepreneurs	48,154	16,257	4,100	6,106	3,253	2,579	4,689	3,729
Rest of households and NPISHs (***)	178,781	129,590	5,257	21,906	24,764	34,434	34,254	19,489
Housing	127,606	124,427	477	18,802	23,120	32,713	32,148	18,122
Consumption	44,504	3,181	3,732	2,535	1,278	1,230	1,322	547
Other purposes	6,671	1,982	1,048	569	366	491	784	820
SUBTOTAL	414,654	182,216	39,789	39,936	39,065	47,687	58,286	37,032
Less: Valuation adjustments due to impairment of assets not attributable to specific operations	-	-	-	-	-	-	-	-
TOTAL	414,654	182,216	39,789	39,936	39,065	47,687	58,286	37,032
MEMORANDUM:
Forbereance operations (****)	19,491	8,031	6,504	3,703	1,845	2,316	2,091	4,580

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• (*) The amounts included in this table are net of impairment losses.
• (**) Small and medium enterprises.
• (***) Nonprofit institutions serving households.
• (****) Net of provisions.

December 2015	Total (*)	Of which: Mortgage loans	Of which: Secured loans	Collateralized Credit Risk. Loan to value
				Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80% but less than or equal to 100%	Over 100%
General Governments	38,555	4,483	3,868	643	690	1,088	2,506	3,424
Other financial institutions	14,319	663	6,098	710	474	302	4,610	666
Non-financial institutions and individual entrepreneurs	184,203	47,773	24,034	20,400	14,931	11,480	12,491	12,506
Construction and property development	19,914	13,295	1,682	3,148	5,465	3,663	1,911	789
Construction of civil works	9,687	2,322	1,023	827	615	576	373	954
Other purposes	154,602	32,157	21,329	16,425	8,850	7,242	10,207	10,763
Large companies	96,239	11,959	15,663	6,207	4,569	4,248	5,627	6,971
SMEs (**) and individual entrepreneurs	58,363	20,198	5,665	10,218	4,281	2,993	4,579	3,792
Rest of households and NPISHs (***)	181,385	132,358	5,397	24,737	34,007	46,885	23,891	8,235
Housing	127,260	124,133	513	20,214	31,816	44,506	21,300	6,810
Consumption	42,211	3,627	3,738	2,311	1,156	1,398	2,118	381
Other purposes	11,914	4,599	1,146	2,212	1,035	982	472	1,043
SUBTOTAL	418,462	185,278	39,396	46,490	50,102	59,756	43,498	24,830
Less: Valuation adjustments due to impairment of assets not attributable to specific operations	4,233	-	-	-	-	-	-	-
TOTAL	414,230	185,278	39,396	46,490	50,102	59,756	43,498	24,830
Forbereance operations (****)	26,080	10,931	7,457	2,728	1,797	2,575	4,665	6,623
MEMORANDUM:
Valuation adjustments due to impairment of assets not attributable to specific operations	63

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• (*) The amounts included in this table are net of impairment losses.
• (**) Small and medium enterprises
• (***) Nonprofit institutions serving households.
• (****) Net of provisions except valuation adjustments due to impairment of assets not attributable to specific operations.

December 2014	Total (*)	Of which: Mortgage loans	Of which: Secured loans	Collateralized Credit Risk. Loan to value
				Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Over 80% but less than or equal to 100%	Over 100%
General Governments	38,765	2,279	4,082	389	348	448	2,005	3,171
Other financial institutions	16,516	649	9,951	623	371	155	8,801	650
Non-financial institutions and individual entrepreneurs	133,577	33,185	16,878	13,780	9,955	11,390	6,826	8,112
Construction and property development	11,896	10,697	784	2,143	2,229	2,873	1,959	2,277
Construction of civil works	6,252	1,182	609	368	327	416	368	312
Other purposes	115,429	21,306	15,485	11,269	7,399	8,101	4,499	5,523
Large companies	75,808	8,060	11,470	4,874	3,861	5,509	2,899	2,387
SMEs (**) and individual entrepreneurs	39,621	13,246	4,015	6,395	3,538	2,592	1,600	3,136
Rest of households and NPISHs (***)	152,533	111,298	7,950	22,050	28,301	40,428	16,448	12,021
Housing	107,549	105,542	437	18,586	25,956	37,079	14,127	10,231
Consumption	28,642	2,707	5,832	2,106	1,517	2,322	1,698	896
Other purposes	16,342	3,049	1,681	1,358	828	1,027	623	894
SUBTOTAL	341,391	147,411	38,861	36,842	38,975	52,421	34,080	23,954
Less: Valuation adjustments due to impairment of assets not attributable to specific operations	2,606	-	-	-	-	-	-	-
TOTAL	338,785	147,411	38,861	36,842	38,975	52,421	34,080	23,954
MEMORANDUM:
Forbereance operations	24,218	17,088	1,444	2,807	2,298	3,102	3,250	7,075

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• (*) The amounts included in this table are net of impairment losses.
• (**) Small and medium enterprises
• (***) Nonprofit institutions serving households.
• (****) Net of provisions except valuation adjustments due to impairment of assets not attributable to specific operations.

c) Information on the concentration of risk by activity and geographical areas.

	Millions of Euros
December 2016	Total (*)	Spain	European Union Other	America	Other
Credit institutions	84,381	12,198	40,552	17,498	14,133
General Governments	134,261	61,495	14,865	47,072	10,829
Central Administration	92,155	39,080	14,550	27,758	10,768
Other	42,105	22,415	315	19,314	61
Other financial institutions	47,029	16,942	14,881	12,631	2,576
Non-financial institutions and individual entrepreneurs	249,322	69,833	26,335	98,797	54,357
Construction and property development	23,141	5,572	371	11,988	5,209
Construction of civil works	14,185	6,180	2,493	3,803	1,709
Other purposes	211,996	58,080	23,471	83,005	47,439
Large companies	158,356	35,514	22,074	64,940	35,828
SMEs and individual entrepreneurs	53,640	22,566	1,397	18,065	11,611
Other households and NPISH	179,051	96,345	3,796	62,836	16,073
Housing	127,607	85,763	3,025	32,775	6,044
Consumer	44,504	7,230	642	27,398	9,234
Other purposes	6,939	3,352	129	2,663	795
SUBTOTAL	694,044	256,813	100,428	238,834	97,968
Less: Valuation adjustments due to impairment of assets not attributable to specific operations	-	-	-	-	-
TOTAL	694,044	256,813	100,428	238,834	97,968

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• (*) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: Loans and advances to credit institutions, Loans and advances to customers, Debt securities, Equity instruments, Other equity securities, Derivatives, Trading Derivatives, Derivatives – Hedge accounting derivatives, Investments in subsidiaries, joint ventures and associates and guarantees given and Contingent risks. The amounts included in this table are net of impairment losses.

	Millions of Euros
December 2015	Total (*)	Spain	European Union Other	America	Other
Credit institutions	81,106	13,014	37,738	20,675	9,679
General Governments	151,919	74,931	14,393	50,242	12,354
Central Administration	107,118	48,617	13,786	32,401	12,314
Other	44,801	26,314	607	17,840	40
Other financial institutions	46,744	16,768	13,623	13,324	3,029
Non-financial institutions and individual entrepreneurs	248,207	72,710	26,561	94,632	54,305
Construction and property development	23,484	5,862	278	11,946	5,397
Construction of civil works	15,540	8,687	2,149	3,497	1,207
Other purposes	209,183	58,161	24,134	79,188	47,701
Large companies	144,990	34,358	22,399	52,704	35,529
SMEs and individual entrepreneurs	64,193	23,803	1,734	26,484	12,172
Other households and NPISH	182,335	100,510	3,832	61,084	16,910
Housing	127,261	88,185	3,103	29,794	6,179
Consumer	42,221	6,728	649	24,799	10,044
Other purposes	12,853	5,597	80	6,490	686
SUBTOTAL	710,311	277,932	96,146	239,956	96,276
Less: Valuation adjustments due to impairment of assets not attributable to specific operations	(4,313)
TOTAL	705,998

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• (*) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: Loans and advances to credit institutions, Loans and advances to customers, Debt securities, Equity instruments, Derivatives, Derivatives, Derivatives – Hedge accounting, Investments in subsidiaries, joint ventures and associates and guarantees given. The amounts included in this table are net of impairment losses.

	Millions of Euros
December 2014	Total (*)	Spain	European Union Other	America	Other
Credit institutions	79,081	13,764	41,614	16,454	7,249
General Governments	139,222	71,274	13,540	53,718	690
Central Administration	94,079	43,114	13,036	37,391	538
Other	45,143	28,160	504	16,327	152
Other financial institutions	41,477	14,639	11,811	14,772	255
Non-financial institutions and individual entrepreneurs	182,632	70,830	23,399	82,737	5,666
Construction and property development	16,468	6,946	69	9,447	6
Construction of civil works	9,436	4,025	1,615	3,723	73
Other purposes	156,728	59,859	21,715	69,567	5,587
Large companies	106,448	41,167	19,189	41,337	4,755
SMEs and individual entrepreneurs	50,280	18,692	2,526	28,230	832
Other households and NPISH	154,287	83,501	3,438	67,109	239
Housing	109,046	74,799	2,766	31,278	203
Consumer	28,642	5,699	562	22,378	3
Other purposes	16,599	3,003	110	13,453	33
SUBTOTAL	596,699	254,008	93,802	234,790	14,099
Less: Valuation adjustments due to impairment of assets not attributable to specific operations	2,629	-	-	-	-
TOTAL	594,070	254,008	93,802	234,790	14,099

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• (*) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: Loans and advances to credit institutions, Loans and advances to customers, Debt securities, Equity instruments, Derivatives, Derivatives, Derivatives – Hedge accounting, Investments in subsidiaries, joint ventures and associates and guarantees given. The amounts included in this table are net of impairment losses.

APPENDIX XII Additional information on Risk Concentration

a) Sovereign risk exposure

The table below provides a breakdown of exposure to financial assets (excluding derivatives and equity instruments), as of December 31, 2016 and 2015 by type of counterparty and the country of residence of such counterparty. The below figures do not take into account accumulated other comprehensive income, impairment losses or loan-loss provisions:

	Millions of Euros
	Sovereign Risk (*)
Risk Exposure by Countries	December 2016	December 2015
Spain	60,434	74,020
Turkey	10,478	12,037
Italy	12,206	10,694
France	518	1,029
Portugal	586	704
Germany	521	560
United Kingdom	17	4
Ireland	-	1
Greece	-	-
Rest of Europe	940	1,278
Subtotal Europe	85,699	100,327
Mexico	26,942	22,192
The United States	16,039	11,378
Venezuela	179	152
Rest of countries	3,814	3,711
Total Rest of Countries	46,974	37,433
Total Exposure to Financial Instruments	132,674	137,760

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• (*) In addition, as of December 31, 2016 and 2015, undrawn lines of credit, granted mainly to the Spanish General Governments and amounted to €2.864 million and, €2.584 million, respectively.

The exposure to sovereign risk set out in the above table includes positions held in government debt securities in countries where the Group operates. They are used for ALCO’s management of the interest-rate risk on the balance sheets of the Group’s entities in these countries, as well as for hedging of pension and insurance commitments by insurance entities within the BBVA Group.

Sovereign risk exposure in Europe

The table below provides a breakdown of the exposure of the Group’s credit institutions to European sovereign risk as of December 31, 2016 and 2015 by type of financial instrument and the country of residence of the counterparty, under EBA (European Banking Authority) requirements:

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• (1) This table shows sovereign risk balances with EBA criteria. Therefore, sovereign risk of the Group’s insurance companies (€10.443 million as of December 31, 2016) is not included.
• (2) Includes credit derivatives CDS (Credit Default Swaps) shown at fair value.

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• (1) This table shows sovereign risk balances with EBA criteria. Therefore, sovereign risk of the Group’s insurance companies (€6.300 million as of December 31, 2015) is not included.
• (2) Includes credit derivatives CDS (Credit Default Swaps) shown at fair value.

As of December 31, 2016 and 2015 the breakdown of total exposure faced by the Group’s credit institutions to Spain and other countries, by maturity of the financial instruments, is as follows:

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b) Concentration of risk on activities in the real-estate market in Spain

Quantitative information on activities in the real-estate market in Spain

LThe following quantitative information on real-estate activities in Spain has been prepared using the reporting models required by Bank of Spain Circular 5/2011, of November 30.
As of December 31, 2016 and 2015, exposure to the construction sector and real-estate activities in Spain stood at €15.285 and €18.744 million, respectively. Of that amount, risk from loans to construction and real-estate development activities accounted for €7.930 and €9.681 million, respectively, representing 4,5% and 6,0% of loans and advances to customers of the balance of business in Spain (excluding the general governments) and 1,1% and 1,3% of the total assets of the Consolidated Group.
Lending for real estate development of the loans as of December 31, 2016 and 2015 is shown below:

	Millions of Euros
December 2016. Financing Allocated to Construction and Real Estate Development and its Coverage	Gross Amount	Drawn Over the Guarantee Value	Accumulated impairment
Financing to construction ans real estate development (including land) (Business in Spain)	7,930	3,449	(2,944)
Of which: Impaired assets	5,095	2,680	(2,888)
Memorandum item:
Write-offs	2,061
Memorandum item
Total loans and advances to customers, excluding the General Goverments (Business in Spain)	159,492
Total consolidated assets (total business)	731,856
Impairment and provisions for normal exposures	(5,830)

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	Millions of Euros
December 2015. Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase	Gross Amount	Drawn Over the Guarantee Value	Accumulated impairment
Financing to construction ans real estate development (including land) (Business in Spain)	9,681	4,132	(3,801)
Of which: Impaired assets	6,231	3,087	(3,600)
Memorandum item:
Write-offs	1,741
Memorandum item
Total loans and advances to customers, excluding the General Goverments (Business in Spain)	161,416
Total consolidated assets (total business)	750,078
Impairment and provisions for normal exposures	(4,549)

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The following is a description of the real estate credit risk based on the types of associated guarantees:

	Millions of Euros
Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase	December 2016	December 2015
Without secured loan	801	1,157
With secured loan	7,129	8,524
Terminated buildings	3,875	4,941
Homes	2,954	4,112
Other	921	829
Buildings under construction	760	688
Homes	633	660
Other	127	28
Land	2,494	2,895
Urbanized land	1,196	1,541
Rest of land	1,298	1,354
Total	7,930	9,681

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As of December 31, 2016 and 2015, 48,9% and 51,0% of loans to developers were guaranteed with buildings (76,2% and 83,2%, are homes), and only 31,5% and 29,9% by land, of which 48,0% and 53,2% are in urban locations, respectively.

The table below provides the breakdown of the financial guarantees given as of December 31, 2016 and 2015:

	Millions of Euros
Financial guarantees given	December 2016	December 2015
Houses purchase loann	62	57
Without mortgage	18	23

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The information on the retail mortgage portfolio risk (housing mortgage) as of December 31, 2016 and 2015 is as follows:

	Millions of Euros
Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase December 2016	Gross carrying amount	De los cuales dudosos
Houses purchase loans	87,874	4,938
Without mortgage	1,935	93
With mortgage	85,939	4,845

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	Millions of Euros
Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase December 2015	Gross carrying amount	De los cuales dudosos
Houses purchase loans	91,150	4,869
Without mortgage	1,480	24
With mortgage	89,670	4,845

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The loan to value (LTV) ratio of the above portfolio is as follows:

	Total risk over the amount of the last valuation available (Loan To Value - LTV)
December 2016. December 2016 LTV Breakdown of mortgage to households for the purchase of a home (Business in Spain)	Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Overr 80% but less than or equal to 100%	Over 100%	Total
Gross amount	13,780	18,223	20,705	15,967	17,264	85,939
of which: Impaired loans	306	447	747	962	2,383	4,845

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	Total risk over the amount of the last valuation available (Loan To Value - LTV)
December 2015. December 2016 LTV Breakdown of mortgage to households for the purchase of a home (Business in Spain)	Less than or equal to 40%	Over 40% but less than or equal to 60%	Over 60% but less than or equal to 80%	Overr 80% but less than or equal to 100%	Over 100%	Total
Gross amount	18,294	27,032	30,952	7,489	5,903	89,670
of which: Impaired loans	202	392	771	991	2,489	4,845

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Outstanding home mortgage loans as of December 31, 2016 and 2015 had an average LTV of 47% and 46% respectively.

The breakdown of foreclosed, acquired, purchased or exchanged assets from debt from loans relating to business in Spain, as well as the holdings and financing to non-consolidated entities holding such assets is as follows:

	Millions of Euros
	December 2016
Information about Assets Received in Payment of Debts (Business in Spain)	Gross Value	Provisions	Of wich: Valuation adjustments on impaired assets, at the time of foreclosure	Carrying Amount
Real estate assets from loans to the construction and real estate development sectors in Spain.	8,017	5,290	2,790	2,727
Finished buildings	2,602	1,346	688	1,256
Homes	1,586	801	408	785
Other	1,016	545	280	471
Buildings under construction	665	429	203	236
Home	642	414	195	228
Other	23	15	8	8
Land	4,750	3,515	1,899	1,235
Urbanized land	3,240	2,382	1,364	858
Rest of land	1,510	1,133	535	377
Real estate assets from mortgage financing for households for the purchase of a home	4,332	2,588	1,069	1,744
Rest of foreclosed real estate assets	1,856	1,006	225	850
Equity instruments, investments and financing to non-consolidated companies holding said assets	1,240	549	451	691
Total	15,445	9,433	4,535	6,012

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	Millions of Euros
	December 2015
Information about Assets Received in Payment of Debts (Business in Spain)	Gross Value	Provisions	Of wich: Valuation adjustments on impaired assets, at the time of foreclosure	Carrying Amount
Real estate assets from loans to the construction and real estate development sectors in Spain.	8,938	5,364	2,838	3,574
Finished buildings	2,981	1,498	737	1,483
Housing	1,606	767	388	839
Other	1,375	731	349	644
Buildings under construction	745	422	204	323
Housing	714	400	191	314
Other	31	22	13	9
Land	5,212	3,444	1,897	1,768
Urbanized land	3,632	2,404	1,366	1,228
Rest of land	1,580	1,040	531	540
Real estate assets from mortgage financing for households for the purchase of a home	4,937	2,687	1,143	2,250
Rest of foreclosed real estate assets	1,368	678	148	690
Instrumentos de capital adjudicados o recibidos en pago de deudas	895	532	433	363
Total	16,138	9,261	4,562	6,877

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As of December 31, 2016 and 2015, the gross book value of the Group’s real-estate assets from corporate financing of real-estate construction and development was €8.017 and €8.938 million, respectively, with an average coverage ratio of 66,0% and 60,0%, respectively.

The gross book value of real-estate assets from mortgage lending to households for home purchase as of December 31, 2016 and 2015, amounted to €4.332 and €4.937 million, respectively, with an average coverage ratio of 59,7% and 54,4%, respectively.

As of December 31, 2016 and 2015, the gross book value of the BBVA Group’s total real-estate assets (business in Spain), including other real-estate assets received as debt payment, was €14.205 and €15.243 million, respectively. The coverage ratio was 62,5% and 57,3%, respectively.

c) Concentration of risk by geography

Below is a breakdown of the balances of financial instruments registered in the accompanying consolidated balance sheets by their concentration in geographical areas and according to the residence of the customer or counterparty. It does not take into account impairment losses or loan-loss provisions:

	Millions of Euros
Risks by Geographical Areas 2016	Spain	Europe, Excluding Spain	Mexico	USA	Turkey	South America	Other	Total
Derivatives	7,143	26,176	2,719	4,045	175	1,359	1,339	42,955
Equity instruments (*)	4,641	2,303	2,383	831	57	316	706	11,236
Debt securities	49,355	20,325	22,380	18,043	11,695	7,262	1,923	130,983
Central banks	-	-	-	-	-	2,237	16	2,253
General governments	40,172	14,282	19,771	11,446	10,258	2,257	240	98,426
Credit institutions	1,781	2,465	257	112	1,331	1,459	869	8,275
Other financial corporations	6,959	1,181	352	4,142	15	347	379	13,376
Non-financial corporations	443	2,397	2,000	2,343	90	961	418	8,653
Loans and advances	187,717	45,075	52,230	61,739	61,090	58,020	5,067	470,938
Central banks	-	158	21	-	5,722	2,994	-	8,894
General governments	20,741	424	7,262	4,593	217	1,380	256	34,873
Credit institutions	5,225	19,154	1,967	1,351	1,194	1,515	1,011	31,416
Other financial corporations	5,339	6,213	1,171	1,648	1,620	886	214	17,091
Non-financial corporations	54,112	14,818	19,256	34,330	34,471	26,024	3,371	186,384
Households	102,299	4,308	22,552	19,818	17,866	25,221	216	192,281
Total Risk in Financial Assets	248,856	93,880	79,712	84,657	73,016	66,956	9,035	656,112
Loan commitments given	31,477	19,219	13,060	34,449	2,912	5,161	976	107,254
Financial guarantees given	1,853	3,504	121	819	9,184	2,072	714	18,267
Other Commitments given	16,610	14,154	1,364	2,911	2,002	3,779	1,771	42,592
Off-balance sheet exposures	49,940	36,878	14,545	38,179	14,098	11,012	3,461	168,113
Total Risks in Financial Instruments	298,796	130,757	94,257	122,836	87,114	77,968	12,497	824,225

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• (*) Equity instruments are shown net of valuation adjustment.

	Millions of Euros
Risks by Geographical Areas 2015	Spain	Europe, Excluding Spain	Mexico	USA	Turkey	South America	Other	Total
Derivatives	7,627	25,099	1,707	2,989	139	2,116	1,225	40,902
Equity instruments (*)	5,061	2,103	2,328	1,077	65	317	987	11,937
Debt securities	62,668	21,589	25,464	19,132	13,388	7,317	2,302	151,859
Central banks	-	-	-	-	-	2,504	16	2,519
General governments	50,877	13,571	22,199	11,373	11,760	2,330	321	112,432
Credit institutions	3,123	2,706	419	92	1,450	1,183	999	9,971
Other financial corporations	8,352	1,818	536	4,606	26	311	425	16,074
Non-financial corporations	317	3,494	2,309	3,061	152	990	541	10,864
Loans and advances	204,090	40,547	61,112	68,235	63,447	59,001	5,842	502,271
Central banks	7,657	1,955	4,013	5,816	7,281	9,463	91	36,275
General governments	23,549	580	8,241	4,443	271	1,318	209	38,611
Credit institutions	4,206	15,265	5,257	3,742	1,914	1,676	1,017	33,076
Other financial corporations	3,946	4,215	1,824	1,483	1,820	811	270	14,368
Non-financial corporations	59,576	14,132	17,525	32,605	33,647	24,060	4,043	185,588
Households	105,157	4,400	24,252	20,147	18,514	21,673	212	194,353
Total Risk in Financial Assets	279,445	89,338	90,611	91,432	77,038	68,751	10,355	706,969
Loan commitments given	30,006	16,878	22,702	33,183	13,108	6,618	1,124	123,620
Financial guarantees given	1,524	4,736	161	949	9,126	2,087	593	19,176
Otros compromisos concedidos	16,866	14,646	327	3,409	2,527	3,822	1,216	42,813
Off-balance sheet exposures	48,396	36,260	23,191	37,541	24,762	12,527	2,933	185,609
Total Risks in Financial Instruments	327,841	125,597	113,801	128,973	101,800	81,278	13,288	892,578

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• (*) Equity instruments are shown net of valuation adjustment.

The breakdown of the main figures in the most significant foreign currencies in the accompanying consolidated balance sheets is set forth in Appendix VII.

The breakdown of loans and advances in the heading of Loans and receivables, impaired by geographical area as of December 31, 2016 and 2015 is as follows:

	Millions of Euros
Impaired Financial Assets by geographic area	December 2016	December 2015
Spain	16,812	19,921
Rest of Europe	704	790
Mexico	1,152	1,277
South America	1,589	1,162
The United States	975	579
Turkey	1,693	1,628
Rest of the world	-	-
IMPAIRED RISKS	22,925	25,358

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APPENDIX XIII Information in accordance with Article 89 of Directive 2013/36/EU of the European Parliament and its application to Spanish Law through Law 10/2014

In accordance with Article 89 of Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD), and its application to Spanish Law through Law 10/2014 of Structuring, Supervision and Solvency of Financial Institutions of June 26, the information required under article 87,1 of said law for the year ended December 31, 2016 is provided below.

December 31, 2016	Millions of Euros
Country	CIT payments cash basis	CIT expense consol	PBT conso	Turnover	Nº Employees (*)	Activity	Main Entity
Mexico	792	707	2,672	6,682	37,378	Finance, banking and insurance services	BBVA Bancomer SA
Spain	74	(108)	(608)	6,457	31,451	Finance, banking and insurance services and real estate	BBVA SA
Turkey	320	375	1,758	3,919	22,006	Finance, banking and insurance services	Turkiye Garanti Bankasi
United States (**)	170	161	625	2,707	10,544	Finance and banking services	Compass Bank, Inc.
Colombia	131	130	360	874	7,228	Finance, banking and insurance services	BBVA Colombia SA
Argentina	88	134	396	1,086	6,439	Finance, banking and insurance services	BBVA Banco Frances SA
Peru	176	128	485	1,084	6,010	Finance and banking services	BBVA Banco Continental SA
Venezuela	5	38	31	52	4,877	Finance, banking and insurance services	BBVA Banco Provincial SA
Chile	15	38	218	697	4,522	Finance, banking and insurance services	BBVA Chile SA
Romania	-	(1)	9	120	1,290	Finance and banking services	Garanti Bank SA
Uruguay	23	16	31	142	618	Finance and banking services	BBVA Uruguay SA
Portugal	5	21	74	98	490	Financial services	BBVA Portugal SA
Paraguay	1	3	28	81	463	Financial services	BBVA Paraguay SA
Bolivia	2	2	7	25	366	Financial services	BBVA Previsión AFP SA
Netherlandr	6	10	38	104	248	Finance and banking services	Garantibank International NV
United Kingdom	-	(16)	20	84	150	Financial services	BBVA - London branch
Switzerland	6	3	11	46	125	Financial services	BBVA -Switzerland SA
Hong Kong	-	-	1	61	89	Financial services	BBVA - Hong-Kong branch
France	14	13	36	65	78	Financial services	BBVA -Paris branch
Italy	37	14	41	57	61	Financial services	BBVA -Rome branch
Germany	22	20	44	55	45	Financial services	BBVA -Frankfurt branch
Belgium	-	-	4	7	32	Financial services	BBVA - Brussels branch
Luxembourg (***)	7	2	5	10	20	Financial services	Garanti - Luxembourg branch
Ireland	2	2	15	11	4	Finance, banking and insurance services	BBVA Ireland PCL
Russia (****)	-	-	2	6	-	Financial services	Moscow branch
China	4	-	(1)	-	23	Financial services	BBVA - Shanghai branch
Brazil	-	1	2	5	8	Financial services	BBVA Brasil Banco de Investimento, S.A.
Curaçao	-	-	2	4	11	Financial services	Banco Provincial Overseas NV
Singapore	1	1	4	7	10	Financial services	BBVA -Singapore branch
Japan	-	-	(6)	(3)	10	Financial services	BBVA -Tokio branch
South Korea	-	-	(7)	3	17	Financial services	BBVA -Seoul branch
Taiwan	-	1	5	9	7	Financial services	BBVA -Taipei branch
Finland	-	-	(2)	-	39	Banking services	Holvi Payment Service OY
Cyprus (***)	1	2	9	14	105	Financial services	BBVA -Nicosia branch
Malta (***)	4	2	83	84	12	Financial services	BBVA -Valleta branch
Total	1,906	1,699	6,392	24,653	134,776

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• (*) Number of full-time employees. 16 employees of Representative Office are not included.
• (**) Including the figures from the Cayman Islands branch.
• (***) Figures from these branches are also taxed in Turkey.
• (****) Garanti Bank Moscow was sold on December 2016.

As of December 31, 2016, the return of the Group’s assets calculated by dividing the “Profit” between “Total Assets” is 0,64%.
In 2016 (*), BBVA group has not received public aid for the financial sector which has the aim of promoting the carrying out of banking activities and which is significant. This statement is made for the purposes of article 89 of Directive 2013/36/UE of the European Parliament and of the Council of June 26 (on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms) and its transposition to Spanish legislation by means of Law 10/2014 on Monitoring, Supervision and Solvency of Credit Institutions of June 26.

(*) BBVA disclosed by means of public relevant events: (i) on 07/27/2012 the closing of the acquisition of UNNIM Banc, S.A. and (ii) on 04/24/2015 the closing of the acquisition of Catalunya Banc, S.A.

APPENDIX XIV – Reconciliation of Financial Statements

Current format	Millions of Euros
ASSETS	December 2015
CASH, CASH BALANCES AT CENTRAL BANKS AND OTHER DEMAND DEPOSITS (1)	29,282
FINANCIAL ASSETS HELD FOR TRADING	78,326
Derivatives	40,902
Equity instruments	4,534
Debt securities	32,825
Loans and advances to central banks	-
Loans and advances to credit institutions	-
Loans and advances to customers	65
OTHER FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS	2,311
Equity instruments	2,075
Debt securities	173
Loans and advances to central banks	-
Loans and advances to credit institutions	62
Loans and advances to customers	-
AVAILABLE-FOR-SALE FINANCIAL ASSETS	113,426
Equity instruments	5,116
Debt securities	108,310
LOANS AND RECEIVABLES (2)	471,828
Debt securities	10,516
Loans and advances to central banks	17,830
Loans and advances to credit institutions	29,317
Loans and advances to customers	414,165
HELD-TO-MATURITY INVESTMENTS	-
HEDGING DERIVATIVES	3,538
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK	45
INVESTMENTS IN SUBSIDARIES, JOINT VENTURES AND ASSOCIATE	879
Joint ventures	243
Associates	636
REINSURANCE ASSETS	511
TANGIBLE ASSETS	9,944
Property, plants and equipment	8,477
For own use	8,021
Other assets leased out under an operating lease	456
Investment properties	1,467
INTANGIBLE ASSETS	10,052
Goodwill	6,915
Other intangible assets	3,137
TAX ASSETS	17,779
Current	1,901
Deferred	15,878
OTHER ASSETS	8,566
Insurance contracts linked to pensions	-
Inventories	4,303
Rest	4,263
NON-CURRENT ASSETS AND DISPOSAL GROUPS HELD FOR SALE (3	3,369
TOTAL ASSETS	749,855

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• (1) The main differences with regard to the heading " Cash and deposits with central banks" are the inclusion of the balances deposited in Credit Institutions and the reclassification of Loans at central banks to the heading Loans and Receivables
• (2) The main differences with regard to the heading "Loans and receivables" are the inclusion of loans at central banks and the reclassification of balances deposited in Credit institutions to the heading "Cash, cash balances at central banks and other demand deposits"
• (3) Corresponding to the heading "Non-current assest held-for-sale" of the previous format

Previous format	Millions of Euros
Assets	December 2015
CASH AND BALANCES WITH CENTRAL BANKS	43,467
FINANCIAL ASSETS HELD FOR TRADING	78,326
Loans and advances to credit institutions	-
Loans and advances to customers	65
Debt securities	32,825
Equity instruments	4,534
Trading derivatives	40,902
OTHER FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS	2,311
Loans and advances to credit institution	62
Loans and advances to customers	-
Debt securities	173
Equity instruments	2,075
AVAILABLE-FOR-SALE FINANCIAL ASSETS	113,426
Debt securities	108,310
Equity instruments	5,116
LOANS AND RECEIVABLES	457,644
Loans and advances to credit institution	32,962
Loans and advances to customers	414,165
Debt securities	10,516
HELD-TO-MATURITY INVESTMENTS	-
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK	45
HEDGING DERIVATIVES	3,538
NON-CURRENT ASSETS HELD FOR SALE	3,369
INVESTMENTS IN ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD	879
Associates	636
Joint ventures	243
INSURANCE CONTRACTS LINKED TO PENSIONS	-
REINSURANCE ASSETS	511
TANGIBLE ASSETS	9,944
Property, plants and equipment	8,477
For own use	8,021
Other assets leased out under an operating lease	456
Investment properties	1,467
INTANGIBLE ASSETS	10,052
Goodwill	6,915
Other intangible assets	3,137
TAX ASSETS	17,779
Current	1,901
Deferred	15,878
OTHER ASSETS	8,566
Inventories	4,303
Rest	4,263
TOTAL ASSETS	749,855

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Current format	Millions of Euros
LIABILITIES	December 2015
FINANCIAL LIABILITIES HELD FOR TRADING	55,203
Trending derivatives	42,149
Short positions	13,053
Deposits from central banks	-
Deposits from credit institutions	-
Customer deposits	-
Debt certificates	-
Other financial liabilities	-
OTHER FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS	2,649
Deposits from central banks	-
Deposits from credit institutions	-
Customer deposits	-
Debt certificates	-
Other financial liabilities	2,649
Of which: Subordinated liabilities (1)	-
FINANCIAL LIABILITIES AT AMORTIZED COST	606,113
Deposits from central banks	40,087
Deposits from credit institutions	68,543
Customer deposits	403,362
Debt certificates	81,980
Other financial liabilities	12,141
Of which: Subordinated liabilities (1)	16,109
HEDGING DERIVATIVES	2,726
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK	358
LIABILITIES UNDER INSURANCE CONTRACTS	9,407
PROVISIONS	8,852
Provisions for pensions and similar obligations	6,299
Other long term employee benefits	68
Provisions for taxes and other legal contingencies	616
Provisions for contingent risks and commitments	714
Other provisions	1,155
TAX LIABILITIES	4,656
Current	1,238
Deferred	3,418
OTHER LIABILITIES	4,610
LIABILITIES INCLUDED IN DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE	-
TOTAL LIABILITIES	694,573

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• (1) Subordinated financial liabilities: In the current format they are classified in the subheading Customer deposits and debt certificates

Previous format	Millions of Euros
LIABILITIES	December 2015
FINANCIAL LIABILITIES HELD FOR TRADING	55,203
Deposits from central banks	-
Deposits from credit institutions	-
Customer deposits	-
Debt certificates	-
Trading derivatives	42,149
Short positions	13,053
Other financial liabilities	-
OTHER FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS	2,649
Deposits from central banks	-
Deposits from credit institutions	-
Customer deposits	-
Debt certificates	-
Subordinated liabilities	-
Other financial liabilities	2,649
FINANCIAL LIABILITIES AT AMORTIZED COST	606,113
Deposits from central banks	40,087
Deposits from credit institutions	68,543
Customer deposits	403,069
Debt certificates	66,165
Subordinated liabilities	16,109
Other financial liabilities	12,141
AFAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK	358
HEDGING DERIVATIVES	2,726
LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE	-
LIABILITIES UNDER INSURANCE CONTRACTS	9,407
PROVISIONS	8,852
Provisions for pensions and similar obligations (2)	6,299
rovisions for taxes and other legal contingencies	616
Provisions for contingent risks and commitments	714
Other provisions	1,223
TAX LIABILITIES	4,656
Current	1,238
Deferred	3,418
OTHER LIABILITIES	4,610
TOTAL LIABILITIES	694,573

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Current format	Millions of Euros
EQUITY	December 2015
SHAREHOLDERS’ FUNDS	50,639
Capital	3,120
Paid up capital	3,120
Unpaid capital which has been called up	-
Share premium	23,992
Equity instruments issued other than capital	-
Equity component of compound financial instruments	-
Other equity instruments issued	-
Other equity	35
Retained earnings	22,588
Revaluation reserves	22
Other reserves	(98)
Reserves or accumulated losses of investments in subsidaries, joint ventures and associates	(98)
Other	-
Less: Treasury shares	(309)
Profit or loss attributable to owners of the parent	2,642
Less: Interim dividends	(1,352)
ACCUMULATED OTHER COMPREHENSIVE INCOME (2)	(3,349)
Items that will not be reclassified to profit or loss	(859)
Actuarial gains or (-) losses on defined benefit pension plans	(859)
Non-current assets and disposal groups classified as held for sale	-
Share of other recognised income and expense of investments in subsidaries, joint ventures and associates	-
Other adjustments	-
Items that may be reclassified to profit or loss	(2,490)
Hedge of net investments in foreign operations (effective portion)	(274)
Foreign currency translation	(3,905)
Hedging derivatives. Cash flow hedges (effective portion)	(49)
Available-for-sale financial assets	1,674
Non-current assets and disposal groups classified as held for sale	-
Share of other recognised income and expense of investments in subsidaries, joint ventures and associates	64
NON-CONTROLLING INTEREST	7,992
Valuation adjustments	(1,333)
REST	9,325
TOTAL EQUITY	55,282
TOTAL EQUITY AND TOTAL LIABILITIES	749,855

Current format	Millions of Euros
MEMORANDUM ITEM	December 2015
Financial guarantees given	49,876
Contingent commitments	135,733

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• (1) The heading of Reserves are disclosed in three headings under the current format: Retained earnings, Revaluation Reserves and Other Reserves
• (2) Accumulated other comprehensive income correponds to the heading Valuation Adjustment, with a higher breakdown and different order of the subheadings

Previous format	Millions of Euros
EQUITY	December 2015
SHAREHOLDERS’ FUNDS	50,639
Common Stock	3,120
Issued	3,120
Unpaid and uncalled (-)	-
Share premium	23,992
Reserves (1)	22,512
Accumulated reserves (losses)	22,610
Reserves (losses) of entities accounted for using the equity method	(98)
Other equity instruments	35
Equity component of compound financial instruments	-
Other equity instruments	35
Less: Treasury stock	(309)
Income attributed to the parent company	2,642
Less: Dividends and remuneration	(1,352)
VALUATION ADJUSTMENTS	(3,349)
Available-for-sale financial assets	1,674
Cash flow hedging	(49)
Hedging of net investment in foreign transactions	(274)
Exchange differences	(3,905)
Non-current assets held-for-sale	-
Entities accounted for using the equity method	64
Other valuation adjustments	(859)
NON-CONTROLLING INTEREST	7,992
Valuation adjustments	(1,333)
Rest	9,325
TOTAL EQUITY	55,282
TOTAL LIABILITIES AND EQUITY	749,855

Previous format
MEMORANDUM ITEM	December 2015
CONTINGENT RISKS	49,876
CONTINGENT COMMITMENTS	135,733

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Current format	Millions of Euros
STATEMENT OF PROFIT OR LOSS	December 2015
INTEREST AND SIMILAR INCOME	24,783
INTEREST AND SIMILAR EXPENSES	(8,761)
NET INTEREST INCOME	16,022
DIVIDEND INCOME	415
SHARE OF PROFIT OR LOSS OF ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD	174
FEE AND COMMISSION INCOME	6,340
FEE AND COMMISSION EXPENSES	(1,729)
NET GAINS (LOSSES) ON FINANCIAL ASSETS AND LIABILITIES	865
NET GAINS (LOSSES) ON FINANCIAL ASSETS AND LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS, NET	1,055
GAINS OR (-) LOSSES ON FINANCIAL ASSETS AND LIABILITIES HELD FOR TRADING, NET	(409)
GAINS OR (-) LOSSES ON DERECOGNITION OF FINANCIAL ASSETS AND LIABILITIES NOT MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS, NET	126
GAINS OR (-) LOSSES FROM HEDGE ACCOUNTING, NET	93
EXCHANGE DIFFERENCES (NET)	1,165
OTHER OPERATING INCOME (2)	1,315
OTHER OPERATING EXPENSES (2)	(2,285)
INCOME ON INSURANCE AND REINSURANCE CONTRACTS (2)	3,678
EXPENSES ON INSURANCE AND REINSURANCE CONTRACTS (2)	(2,599)
GROSS INCOME	23,362
ADMINISTRATION COSTS	(10,836)
Personnel expenses	(6,273)
General and administrative expenses	(4,563)
DEPRECIATION	(1,272)
PROVISIONS OR (-) REVERSAL OF PROVISIONS	(731)
IMPAIRMENT OR (-) REVERSAL OF IMPAIRMENT ON FINANCIAL ASSETS NOT MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS	(4,272)
Financial assets measured at cost
Available-for-sale financial assets
Loans and receivables	(4,248)
Held to maturity investments	(23)
NET OPERATING INCOME	6,251

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• (1) The heading net gains (losses) on financial assets and liabilities was eliminated but the breakdown is maintained
• (2) The headings Other operating income and Other operating expenses of the previous format are broken down in four headings under the new format, separating the income and expenses covered by insurance and reinsurance contracts.

Current format	Millions of Euros
(Continuación)	December 2015
NET OPERATING INCOME	6,251
IMPAIRMENT OR (-) REVERSAL OF IMPAIRMENT ON NON-FINANCIAL ASSETS	(273)
Tangible assets	(60)
Intangible assets	(4)
Other	(209)
GAINS (LOSSES) ON DERECOGNIZED OF NON FINANCIAL ASSETS AND SUBSIDIARIES, NET	(2,135)
NEGATIVE GOODWILL RECOGNISED IN PROFIT OR LOSS	26
PROFIT OR (-) LOSS FROM NON-CURRENT ASSETS AND DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE NOT QUALIFYING AS DISCONTINUED OPERATIONS	734
OPERATING PROFIT BEFORE TAX	4,603
TAX EXPENSE OR (-) INCOME RELATED TO PROFIT OR LOSS FROM CONTINUING OPERATION	(1,274)
PROFIT FROM CONTINUING OPERATIONS	3,328
PROFIT FROM DISCONTINUED OPERATIONS (NET)	-
PROFIT	3,328
Attributable to minority interest (non-controlling interests)	686
Attributable to owners of the parent	2,642

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Previous format	Millions of Euros
STATEMENT OF PROFIT OR LOSS	December 2015
INTEREST AND SIMILAR INCOME	24,783
INTEREST AND SIMILAR EXPENSES	(8,761)
NET INTEREST INCOME	16,022
DIVIDEND INCOME	415
SHARE OF PROFIT OR LOSS OF ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD	174
FEE AND COMMISSION INCOME	6,340
FEE AND COMMISSION EXPENSES	(1,729)
NET GAINS (LOSSES) ON FINANCIAL ASSETS AND LIABILITIES (1)	865
Financial instruments held for trading	(409)
Other financial instruments at fair value through profit or loss	117
Other financial instruments not at fair value through profit or loss	1,157
Rest	-
EXCHANGE DIFFERENCES (NET)	1,165
OTHER OPERATING INCOME (2)	4,993
OTHER OPERATING EXPENSES (2)	(4,883)
GROSS INCOME	23,362
ADMINISTRATION COSTS	(10,836)
Personnel expenses	(6,273)
General and administrative expenses	(4,563)
DEPRECIATION AND AMORTIZATION	(1,272)
PROVISIONS (NET)	(731)
IMPAIRMENT LOSSES ON FINANCIAL ASSETS (NET)	(4,272)
Loans and receivables	(4,248)
Other financial instruments not at fair value through profit or loss	(23)
NET OPERATING INCOME	6,251

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Previous format	Millions of Euros
(Continued)	December 2015
NET OPERATING INCOME	6,251
IMPAIRMENT LOSSES ON OTHER ASSETS (NET)	(273)
Goodwill and other intangible assets	(4)
Other assets	(269)
GAINS (LOSSES) ON DERECOGNIZED OF NON FINANCIAL ASSETS AND SUBSIDIARIES, NET	(2,135)
GAINS (LOSSES) IN NON-CURRENT ASSETS HELD FOR SALE NOT CLASSIFIED AS DISCONTINUED OPERATIONS	734
OPERATING PROFIT BEFORE TAX	4,603
INCOME TAX	(1,274)
PROFIT FROM CONTINUING OPERATIONS	3,328
PROFIT FROM DISCONTINUED OPERATIONS (NET)	-
PROFIT	3,328
Profit attributable to parent company	2,642
Profit attributable to non-controlling interests	686

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