Shareholder Report
January - september 2013

The BBVA share

Between July and September 2013, the global economic environment has followed a trend very similar to the one seen the previous quarter, with Europe starting to leave the recession behind and registering positive growth rates.

Performance in global financial markets has been more positive. At the close of September, the Stoxx 50 rose 6.6% in quarterly terms, while the Ibex 35 and the Euro Stoxx Banks were up 18.3% and 24.1%, respectively.

The BBVA share price appreciated by 28.2% in the quarter to €8.26 per share.

Share performance ratios

The BBVA share

Shareholder remuneration

BBVA pays a dividend of €0.10 per share under the "dividend option" formula in October.

Following the recommendations issued by the Bank of Spain, BBVA has decided not to pay a cash dividend in January 2014 and increase the April 2014 dividend to 17 cents per share under the “dividend option” scheme.

Group Earnings

BBVA earned €3,077 million in the first nine months of the year (up 85.8% year-on-year) thanks to strong revenue and the sale of non-strategic assets.

The income statement shows the sustainability of revenue, with over €5,000 million each quarter, despite the difficult environment. BBVA's diversified model and the strong activity in emerging markets (Mexico, South America and Turkey), which contributed 58% of the gross income generated by the BBVA business areas, strengthened the Group's margins.