January-March 2013

The most relevant

BBVA’s banking activity in Spain continues to be affected by the deleveraging process in the economy, the sector’s restructuring and pressure on margins. Against this background, the Group is making the most of the opportunities that arise and strengthening its franchise in terms of customer base and market share, especially through increasing on-balance sheet customer funds.

In earnings, there has been pressure on net interest income, a slight improvement in income from fees and commissions, a significant contribution from NTI, increased impairment losses on financial assets, and capital gains from a reinsurance operation. As a result, net attributable profit for the first quarter of 2013 stands at €569m.