January-December 2013



For BBVA’s operations in Mexico, 2013 has been marked by the positive performance in recurring revenue, underpinned by the steadily increasing pace of business activity throughout the year. This increase is partly supported by the “Investment Plan” to which the area is fully committed, and which accounts for a significant part of the increased expenses over the year. Also of importance is the stability in asset quality indicators, which actually improved in the fourth quarter.