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BBVA in 2013

South America

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Highlights in 2013

  • Positive performance of activity, both in lending and customer funds, in almost every country in the region.
  • Maintenance of spreads.
  • Favourable performance of revenue.
  • Stability of risk indicators.
  • Sale of the pension business and BBVA Panama.

Key role in diversification and income contribution

Income statement

(Million euros)

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South America

2013 Δ% Δ% (1) 2012 2011
Net interest income 4,703 9.7 33.6 4,288 3,159
Net fees and commissions 976 6.9 27.7 913 722
Net trading income 764 72.3 100.7 443 485
Other income/expenses (812) 185.8 n.m. (284) (267)
Gross income 5,630 5.0 25.3 5,360 4,099
Operating expenses (2,386) 4.0 23.2 (2,293) (1,884)
Personnel expenses (1,184) 3.1 20.9 (1,148) (958)
General and administrative expenses (1,029) 5.9 25.9 (972) (774)
Depreciation and amortization (173) (0.5) 23.5 (173) (152)
Operating income 3,244 5.8 27.0 3,066 2,215
Impairment on financial assets (net) (701) 18.3 39.2 (593) (449)
Provisions (net) and other gains (losses) (157) (22.6) 12.8 (202) (89)
Income before tax 2,387 5.1 24.8 2,271 1,677
Income tax (530) 7.4 24.6 (494) (346)
Net income 1,856 4.5 24.8 1,777 1,332
Non-controlling interests (608) 5.1 29.5 (578) (434)
Net attributable profit 1,249 4.1 22.6 1,199 898
(1) At constant exchange rates.
Balance sheet

(Million euros)

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South America

31-12-13 Δ% Δ% (1) 31-12-12 31-12-11
Cash and balances with central banks 13,507 4.6 37.0 12,908 8,335
Financial assets 9,765 (3.8) 18.8 10,146 8,389
Loans and receivables 51,881 0.5 23.4 51,638 42,939
Loans and advances to customers 46,962 (0.4) 21.8 47,146 38,824
Loans and advances to credit institutions and others 4,919 9.5 40.4 4,492 4,114
Tangible assets 943 7.1 37.4 881 759
Other assets 2,043 7.5 30.3 1,901 2,229
Total assets/Liabilities and equity 78,141 0.9 25.2 77,474 62,651
Deposits from central banks and credit institutions 4,589 (22.8) (11.1) 5,947 5,205
Deposits from customers 55,167 2.4 29.7 53,870 42,468
Debt certificates 3,556 9.0 24.9 3,263 2,282
Subordinated liabilities 1,252 4.7 19.6 1,196 1,568
Financial liabilities held for trading 1,069 11.9 27.8 955 1,006
Other liabilities 9,302 2.5 25.5 9,074 7,323
Economic capital allocated 3,205 1.1 25.5 3,169 2,798
(1) At constant exchange rates.
Relevant business indicators

(Million euros and percentage)

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South America

31-12-13 31-12-12 31-12-11
Performing loans (1) 47,753 39,241 33,479
Customer deposits under management (1-2) 58,881 45,306 36,846
Mutual funds 2,952 3,355 2,829
Pension funds 3,600 3,081 2,661
Efficiency ratio (%) 42.4 42.8 46.0
NPA ratio (%) 2.1 2.1 2.2
NPA coverage ratio (%) 141 146 146
Risk premium (%) 1.49 1.34 1.31
(1) Figures at constant exchange rates.
(2) Excluding repos and including specific marketable debt securities.
BBVA footprint in South America
South America. Data per country

(Million euros)

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Country Operating income Net attributable profit

2013 ∆% ∆% at constant
exchange rates
2012 2011 2013 ∆% ∆% at constant
exchange rates
2012 2011
Argentina 509 15.3 43.6 442 315 214 11.8 39.2 191 156
Chile 336 7.4 13.2 313 299 119 (20.9) (16.7) 151 139
Colombia 525 1.9 9.4 516 379 296 0.3 7.8 295 230
Peru 651 1.4 7.4 642 492 167 (2.3) 3.5 170 141
Venezuela 1,116 5.1 53.2 1,061 670 369 11.9 63.1 329 201
Other countries (1) 108 15.9 19.7 93 60 84 36.5 41.2 62 31
Total 3,244 5.8 27.0 3,066 2,215 1,249 4.1 22.6 1,199 898
(1) Panama, Paraguay, Uruguay and Bolivia. Additionally, it includes eliminations and other charges.
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