The BBVA Group has not been immune to the aforementioned situation and the CIB portfolios have been adversely affected in 2012. Gross lending to customers has declined due to the deleveraging process underway in the European and U.S. economies, together with CIB’s strategy of selective growth in certain customers and portfolios. It fell by 16.2% over the year to €49,374m. By geographical areas, the balances are down in Europe, Asia and the U.S., they have remained stable in Mexico (down 1.3% year-on-year) and increased in South America (up 5.6%).
From the point of view of liabilities, the effort made by CIB to adequately manage liquidity is reflected in the reverse of the trend in customer funds. Following the outflows seen mainly in the first half of 2012 as a result of the downgrade of the credit rating of Spain and BBVA,
on-balance-sheet customer funds, excluding repos, increased by 7.3% in the last quarter and decreased by 3.0% year – to year. Finally, the balance stood at 30,376m as of 31-12-2012.
58 CIB. Key activity data
(Million euros at constant exchange rates)
(2) Excluding assets sold under repurchase agreements.
(3) At current exchange rates: –2.2%.