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BBVA in 2013

Real-estate activity in Spain

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Highlights in 2013

  • The improved economic climate has started to be reflected in the stabilization of sales and prices in the sector.
  • Another reduction in BBVA’s net exposure to the real-estate sector.
  • Increased rate of growth in sales of real-estate assets.
  • Limited risks, but affected by refinanced assets.

Focus on sales

Income statement

(Million euros)

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Real-estate activity in Spain

2013 Δ% 2012 2011
Net interest income (3) (87.1) (20) 104
Net fees and commissions 8 (54.0) 18 22
Net trading income 67 n.m. (29) 12
Other income/expenses (111) 108.1 (53) (14)
Gross income (38) (55.0) (84) 124
Operating expenses (152) 20.5 (126) (101)
Personnel expenses (86) 44.9 (60) (43)
General and administrative expenses (43) 0.6 (43) (45)
Depreciation and amortization (23) (4.7) (24) (13)
Operating income (190) (9.7) (211) 23
Impairment on financial assets (net) (643) (83.1) (3,799) (481)
Provisions (net) and other gains (losses) (1,008) (40.6) (1,695) (757)
Income before tax (1,840) (67.7) (5,705) (1,216)
Income tax 595 (64.1) 1,659 405
Net income (1,245) (69.2) (4,046) (810)
Non-controlling interests (9) n.m. 3 2
Net attributable profit (1,254) (69.0) (4,044) (809)
Balance sheet

(Million euros)

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Real-estate activity in Spain

31-12-13 Δ% 31-12-12 31-12-11
Cash and balances with central banks 6 73.9 4 -
Financial assets 1,159 3.4 1,121 1,144
Loans and receivables 10,540 (14.9) 12,384 13,788
Loans and advances to customers 10,559 (14.7) 12,384 13,788
Loans and advances to credit institutions and others (19) - - -
Inter-area positions - - - -
Tangible assets 1,661 (10.0) 1,846 1,566
Other assets 7,196 9.6 6,568 6,059
Total assets/Liabilities and equity 20,563 (6.2) 21,923 22,558
Deposits from central banks and credit institutions - - - -
Deposits from customers 103 (78.6) 479 241
Debt certificates - - 13 -
Subordinated liabilities 556 (14.7) 651 2,097
Inter-area positions 17,677 (1.0) 17,857 16,407
Financial liabilities held for trading - - - -
Other liabilities - - - -
Economic capital allocated 2,227 (23.8) 2,922 3,812
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