Gross customer lending maintains the same trend seen in the first quarter of the year. As of 30-Jun-2012, it totaled €33,834m, growing 2.2% year-on-year and 1.7% over the quarter, thanks to good lending performance at Garanti. Excluding Turkey, loans practically remained at the same levels recorded at the end of March 2012. BBVA continues to prioritize profitability over volume and, therefore, is focusing on high added-value customers and credit quality.

In this regard, the stability of the main risk indicators was especially noteworthy, ending the 6-month period at levels similar to those recorded on 31-March-2012. At 1.4%, the NPA ratio is at historically low levels, and the accumulated risk premium closed at 0.45%.

The coverage ratio stood at 119% (114% as of 31-March-2012).

Customer funds totaled €19,981m, a decline of 7.2% over the quarter, due to the drop in wholesale deposits in Europe. Turkey and the retail businesses in the area remain on the positive trend seen in previous quarters.