BBVA in 2013

Exposure to the real-estate sector in Spain

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BBVA’s gross exposure to the real-estate sector in Spain is limited, totaling €26,470m (out of which 51% are developer loans and 49% buildings), and declined by €947m last year. It is worth noting that the acquisition of Unnim Banc, completed in July 2012, includes an asset protection scheme (APS). Thus, the risk of incorporating the Unnim portfolios into the BBVA Group is very limited.

By the status of assets, 88% are classified as problematic (38% NPA, 6% substandard and 56% foreclosed assets) and 12% are outstanding risk.

The breakdown by type of assets is: 54% finished housing, 9% housing under development, 27% land and 10% other assets, including those with personal guarantee.

For further information on this subject, refer to the chapter Business areas, Real-estate activity in Spain.