Balance sheet and business activity

BBVA closed the third quarter of 2012 with its balance sheet and business activity maintaining the trend seen in previous quarters, on top of the incorporation of the balances of Unnim. The highlights for the quarter are as follows:

Incorporation of the balances of Unnim, which at the close of September contributed a loan book of €18 billion and customer deposits of €11 billion. This explains most of the 3.7% growth in the Group’s balance sheet over the quarter to €645 billion.
Growth in gross customer lending over the quarter due to the consolidation of Unnim. The strong activity in emerging markets partly offsets the deleveraging process taking place in Spain and in the wholesale businesses in developed economies.
Growth in on-balance-sheet customer funds (customer deposits plus promissory notes) mainly in the retail segment in all the geographical areas in which BBVA operates.
As a result, the Group’s liquidity position and funding structure improved. In the euro balance sheet, the commercial gap was reduced by €9.6 billion over the quarter.

Tables

Consolidated balance sheet

(Million euros)

	30-09-12	Δ %	30-09-11	31-06-12	31-12-11
Cash and balances with central banks	28,207	14.5	24,637	24,011	30,939
Financial assets held for trading	83,449	11.5	74,859	78,792	70,602
Other financial assets designated at fair value through profit or loss	3,499	23.9	2,825	3,371	2,977
Available-for-sale financial assets	71,329	21.4	58,768	65,834	58,143
Loans and receivables	394,223	6.6	369,919	390,654	381,077
Loans and advances to credit institutions	26,777	12.7	23,756	28,764	26,107
Loans and advances to customers	363,818	5.9	343,416	358,332	351,900
Other	3,629	32.1	2,747	3,559	3,069
Held-to-maturity investments	10,118	(8.4)	11,049	10,157	10,955
Investments in entities accounted for using the equity method	6,681	24.8	5,352	6,604	5,843
Tangible assets	8,396	19.5	7,026	7,477	7,330
Intangible assets	8,849	(12.1)	10,068	8,927	8,677
Other assets	30,696	54.0	19,935	26,533	21,145
Total assets	645,447	10.4	584,438	622,359	597,688
Financial liabilities held for trading	58,740	16.1	50,616	56,296	51,303
Other financial liabilities at fair value through profit or loss	2,491	45.1	1,716	2,105	1,825
Financial liabilities at amortized cost	507,764	8.4	468,494	491,717	479,904
Deposits from central banks and credit institutions	112,738	40.8	80,072	119,709	92,503
Deposits from customers	288,709	2.4	282,050	274,285	282,173
Debt certificates	85,053	2.3	83,107	78,277	81,930
Subordinated liabilities	13,636	(15.1)	16,067	11,801	15,419
Other financial liabilities	7,626	5.9	7,198	7,645	7,879
Liabilities under insurance contracts	8,994	20.3	7,478	8,054	7,737
Other liabilities	23,709	45.8	16,265	21,138	16,861
Total liabilities	601,697	10.5	544,569	579,309	557,630
Non-controlling interests	2,260	30.6	1,730	2,100	1,893
Valuation adjustments	(2,300)	(32.6)	(3,414)	(2,835)	(2,787)
Shareholders' funds	43,789	5.4	41,552	43,785	40,952
Total equity	43,750	9.7	39,868	43,050	40,058
Total equity and liabilities	645,447	10.4	584,438	622,359	597,688
Memorandum item:
Contingent liabilities	40,062	4.0	38,530	40,897	39,904

January - September 2012

Balance sheet and business activity

Tables