The United States highlights in 2012
- Positive trend in activity, strongly supported by local businesses.
- Costs kept in check.
- Outstanding asset quality.
- Implementation of the technological platform in all the branches.
- Significant progress in brand recognition.
- Sale of the Puerto Rico business.
Income statement
(Million euros)
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The United States | Units | ||||||||
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BBVA Compass | |||||||||
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2012 | Δ% | Δ% (1) | 2011 | 2010 | 2012 | Δ% | Δ% (1) | 2011 | |
| Net interest income | 1,682 | 2.8 | (4.7) | 1,635 | 1,825 | 1,467 | 4.3 | (3.2) | 1,400 | |
| Net fees and commissions | 603 | (4.8) | (11.1) | 633 | 651 | 511 | (2.3) | (10.0) | 525 | |
| Net trading income | 160 | 14.5 | 7.5 | 140 | 156 | 120 | 24.9 | 17.9 | 94 | |
| Other income/expenses | (49) | (41.8) | (46.3) | (84) | (50) | (44) | (41.5) | (50.2) | (83) | |
| Gross income | 2,395 | 3.1 | (4.2) | 2,324 | 2,583 | 2,054 | 5.5 | (2.0) | 1,936 | |
| Operating costs | (1,583) | 5.8 | (1.7) | (1,497) | (1,521) | (1,394) | 6.5 | (1.0) | (1,300) | |
| Personnel expenses | (875) | 6.7 | (0.8) | (820) | (753) | (770) | 7.0 | (0.5) | (715) | |
| General and administrative expenses | (521) | 2.8 | (4.5) | (507) | (569) | (442) | 4.6 | (2.9) | (420) | |
| Depreciation and amortization | (188) | 10.4 | 2.0 | (170) | (199) | (182) | 9.5 | 2.1 | (165) | |
| Operating income | 812 | (1.8) | (8.6) | 827 | 1,061 | 659 | 3.3 | (4.2) | 636 | |
| Impairment on financial assets (net) | (90) | (73.8) | (75.9) | (346) | (703) | (53) | (75.5) | (85.1) | (332) | |
| Provisions (net) and other gains (losses) | (54) | (96.4) | (96.7) | (1,501) | (22) | (45) | (87.3) | (97.2) | (1,480) | |
| Income before tax | 667 | n.m. | n.m. | (1,020) | 336 | 561 | n.m. | n.m. | (1,175) | |
| Income tax | (192) | n.m. | n.m. | 329 | (76) | (174) | n.m. | n.m. | 362 | |
| Net income | 475 | n.m. | n.m. | (691) | 260 | 387 | n.m. | n.m. | (814) | |
| Non-controlling interests | - | - | - | - | - | - | - | - | - | |
| Net attributable profit | 475 | n.m. | n.m. | (691) | 260 | 387 | n.m. | n.m. | (814) | |
| Adjusted (2) | - | - | - | (1,011) | - | - | - | - | (1,011) | |
| Net attributable profit (adjusted) | 475 | 48.4 | 39.6 | 320 | 260 | 387 | 96.1 | 81.1 | 197 | |
(2) In 2011, during the fourth quarter, US goodwill impairment charge.
Balance sheet
(Million euros)
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Estados Unidos | Unidades | |||||||
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BBVA Compass | ||||||||
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31-12-12 | Δ% | Δ% (1) | 31-12-11 | 31-12-10 | 31-12-12 | Δ% | Δ% (1) | 31-12-11 |
| Cash and balances with central banks | 5,384 | 59.3 | 62.4 | 3,380 | 2,527 | 4,339 | 95.7 | 110.4 | 2,103 |
| Financial assets | 7,584 | (9.9) | (8.1) | 8,418 | 7,486 | 7,508 | 0.3 | 2.3 | 7,486 |
| Loans and receivables | 38,311 | (9.6) | (7.9) | 42,397 | 41,286 | 34,945 | 4.7 | 7.2 | 33,228 |
| Loans and advances to customers | 36,068 | (11.3) | (9.6) | 40,677 | 39,964 | 33,018 | 2.5 | 4.8 | 32,118 |
| Loans and advances to credit institutions and others | 2,243 | 30.4 | 33.0 | 1,720 | 1,321 | 1,927 | 66.2 | 77.0 | 1,110 |
| Inter-area positions | - | - | - | - | 4,625 | 416 | - | - | - |
| Tangible assets | 745 | (10.5) | (8.8) | 833 | 796 | 729 | (7.3) | (6.4) | 794 |
| Other assets | 1,825 | (16.2) | (14.6) | 2,179 | 2,453 | 1,704 | (10.4) | (9.8) | 1,927 |
| Total assets/Liabilities and equity | 53,850 | (5.9) | (4.0) | 57,207 | 59,173 | 49,641 | 8.1 | 11.2 | 45,538 |
| Deposits from central banks and credit institutions | 6,652 | (8.6) | (6.8) | 7,278 | 7,714 | 3,901 | (4.6) | (3.3) | 4,112 |
| Deposits from customers | 39,132 | 1.9 | 4.0 | 38,384 | 42,905 | 38,378 | 9.7 | 12.9 | 34,659 |
| Debt certificates | - | - | - | 363 | 501 | - | - | - | - |
| Subordinated liabilities | 848 | (30.0) | (28.6) | 1,211 | 1,072 | 800 | (15.2) | (15.3) | 963 |
| Inter-area positions | 203 | (91.8) | (91.6) | 2,466 | - | - | - | - | - |
| Financial liabilities held for trading | 352 | (22.6) | (21.0) | 454 | 360 | 351 | (18.2) | (18.6) | 440 |
| Other liabilities | 4,025 | 9.6 | 11.7 | 3,673 | 3,793 | 3,837 | 32.7 | 39.0 | 2,814 |
| Economic capital allocated | 2,638 | (21.9) | (20.4) | 3,379 | 2,827 | 2,374 | (6.2) | (5.0) | 2,549 |
Significant ratios
(Percentage)
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The United States | |||
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31-12-12 | 31-12-11 | 31-12-10 | |
| Efficiency ratio | 66.1 | 64.4 | 58.9 | |
| NPA ratio | 2.4 | 3.5 | 4.3 | |
| NPA coverage ratio | 90 | 73 | 61 | |
| Risk premium | 0.23 | 0.89 | 1.65 | |