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January-December 2013

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South America

South America highlights in the fourth quarter

  • Year-on-year growth in activity above that of previous quarters.
  • Strength of more recurring revenue.
  • Stable risk indicators.
  • Closing of the sale of BBVA Panama and AFP Provida in Chile.
Income statement

(Million euros)

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South America

2013 Δ % Δ % (1) 2012
Net interest income 4,703 9.7 33.6 4,288
Net fees and commissions 976 6.9 27.7 913
Net trading income 764 72.3 100.7 443
Other income/expenses (812) 185.8 n.m. (284)
Gross income 5,630 5.0 25.3 5,360
Operating expenses (2,386) 4.0 23.2 (2,293)
Personnel expenses (1,184) 3.1 20.9 (1,148)
General and administrative expenses (1,029) 5.9 25.9 (972)
Depreciation and amortization (173) (0.5) 23.5 (173)
Operating income 3,244 5.8 27.0 3,066
Impairment on financial assets (net) (701) 18.3 39.2 (593)
Provisions (net) and other gains (losses) (157) (22.6) 12.8 (202)
Income before tax 2,387 5.1 24.8 2,271
Income tax (530) 7.4 24.6 (494)
Net income 1,856 4.5 24.8 1,777
Non-controlling interests (608) 5.1 29.5 (578)
Net attributable profit 1,249 4.1 22.6 1,199
(1) At constant exchange rates.
Balance sheet

(Million euros)

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South America

31-12-13 Δ % Δ % (1) 31-12-12
Cash and balances with central banks 13,507 4.6 37.0 12,908
Financial assets 9,765 (3.8) 18.8 10,146
Loans and receivables 51,881 0.5 23.4 51,638
Loans and advances to customers 46,962 (0.4) 21.8 47,146
Loans and advances to credit institutions and other 4,919 9.5 40.4 4,492
Tangible assets 943 7.1 37.4 881
Other assets 2,043 7.5 30.3 1,901
Total assets/liabilities and equity 78,141 0.9 25.2 77,474
Deposits from central banks and credit institutions 4,589 (22.8) (11.1) 5,947
Deposits from customers 55,167 2.4 29.7 53,870
Debt certificates 3,556 9.0 24.9 3,263
Subordinated liabilities 1,252 4.7 19.6 1,196
Financial liabilities held for trading 1,069 11.9 27.8 955
Other liabilities 9,302 2.5 25.5 9,074
Economic capital allocated 3,205 1.1 25.5 3,169
(1) At constant exchange rates.
Relevant business indicators

(Million euros and percentage)

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South America

31-12-13 30-09-13 31-12-12
Performing loans (1) 47,753 43,724 39,241
Customer deposits under management (1-2) 58,881 52,796 45,306
Mutual funds 2,952 2,947 3,355
Pension funds 3,600 3,352 3,081
Efficiency ratio (%) 42.4 43.3 42.8
NPA ratio (%) 2.1 2.2 2.1
NPA coverage ratio (%) 141 137 146
Risk premium (%) 1.49 1.39 1.34
(1) Figures at constant exchange rates. (2) Excluding repos and including specific marketable debt securites.

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