CIB closed 30-Jun-2012 in Spain with gross customer lending of €26,624m. The quarterly rise of 18.6% is due to a temporary increase in the most volatile balances from repos and guarantees related to market transactions. The Banking and Corporate Finance unit, not including Global Markets, managed a balance in Spain of €12,625m as of 30-Jun-2012, €158m down on the close of March 2012. This unit continues to be highly focused on customers with the greatest loyalty, profitability and credit quality.

CIB’s on-balance-sheet customer funds totaled €6,714m as of 30-Jun-2012, a fall over the quarter of 39.9%. This drop is closely linked to BBVA’s credit rating downgrades, as explained in the previous sections. The following are worth highlighting in earnings:

• Positive performance of revenue from clients. Gross income to June 2012 for the Banking and Corporate Finance unit grew by 4.4% year-on-year. Revenue from clients in Global Markets also remained stable in the same period, despite the complex economic and financial situation. Including both franchise and leverage revenue, gross income for CIB in Spain as a whole amounted to €497m in the first half of 2012, down 15.9% on the figure for the same period last year.
• Containment of operating expenses at €165m, which were 4.0% below the figure for the first half of 2011.
• As a result, operating income fell 20.8% on the figure for the same period last year to €332m.
• The cumulative net attributable profit for the first six months of 2012 was €176m, a fall of 39.1%, mainly due to the poor performance of the financial markets in 2012. It is also important to note that this figure compares with an exceptionally high first half of 2011.

The most significant transactions and highlights for the period are detailed in the CIB section at the end of this report.