Based on our systems to listen to stakeholders and our strategic vision, the Group has set up a new strategic program called Social Impact. This assesses BBVA’s social and economic impact on the development of the societies in which it operates through its social programs and, especially, its main financial activities.
Until now, this report included data on Economic Value Added (EVA) broken down by stakeholder and Economic Value Generated, Distributed and Retained calculated in accordance with the GRI protocol for the EC1 indicator. The results of these indicators this year were:
Economic Value Added (EVA) (1). Breakdown by stakeholder group
|Customers and capital suppliers||Interest and similar charges (2)||11,028||7,814||9,893|
|Suppliers||Other general administrative expenses (3)||3,793||3,359||2,976|
|Society||Corporate income tax||285||1,427||1,141|
|Resources allocated by the BBVA Group||34||34||36|
|Resources allocated by BBVA’s foundations||40||42||44|
|Total||Economic Value Added (EVA)||21,615||18,569||20,314|
(2) Interest and similar charges from financial activity. Does not include fees.
(3) Approximation adjusted to payments made to third parties under the heading of purchases and services rendered. Scope: BBVA Group and its Foundations.
In 2011, the social impact project allowed a preview of some more innovating indicators to give a better measurement of BBVA’s social impact. The program’s objective is based around the principle of transparency in order to show what BBVA is really about and thereby gain social legitimacy in the eyes of all of its stakeholders.
BBVA's social impact (2011)
|People who live in BBVA-financed houses (Million people) (1)||4.7|
|Customers in Spain with new financing conditions tailored to their needs (2)||105,000|
|Entrepreneurs in Latin America financed with microcredits from the BBVA Microfinance Foundation (3)||948,500|
|People with term deposits who on average have received €863 in interest (Million people) (4)||2.7|
|People with funds managed by the Group's pension managers in Latin America (Million people) (5)||13.3|
|Small shareholders who have received an average dividend of €490 (6)||935,406|
|Jobs created in 2011 (7)||3,200|
|Total taxes paid and collected by BBVA (Million euros) (8)||8,011.5|
|Amount paid to 6,654 suppliers in 2011 (million euros) (9)||5,498|
|Attributable profit after taxes donated to community involvement programs (%)||2.5|
|Children granted scholarships under education programs in Latin America||61,436|
|People trained under financial literacy program||814,483|
Along these lines, BBVA also wants to prove its unwavering commitment to transparency and business ethics everywhere it operates. In 2011, BBVA adopted the Code of Good Tax Practices in Spain, a government initiative to increase cooperation and transparency between companies and the Spanish Tax Revenue Agency. As well as applying ethical and transparent work practices in every country it operates, BBVA also makes a significant contribution toward public revenue through its own tax payments, third party tax collection due to its economic activity and third party tax collection in its role as collaborating entity with the tax authorities.
The following is a breakdown of information on BBVA’s tax contribution in each of the countries in which it operates for FY 2011:
BBVA Group's tax contribution with information on own taxes paid (1)
|Own Taxes||Third Party Taxes||Total Contribution|
|Spain and Portugal||1,005.13||1,482.98||2,488.11|
|Rest of the Group||86.18||26.55||112.74|