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financial statements 2014

APPENDIX I Additional information on consolidated subsidiaries and consolidated structured entities composing the BBVA

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Additional Information on Consolidated Subsidiaries composing the BBVA Group
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Millions of Euros(*)


% of Voting Rights Controlled by the Bank Affiliate Entity Data
Company
                		 Location Activity Direct Indirect Total Net Carrying Amount Assets
12.31.14		 Liabilities
12.31.14		 Equity
12.31.14		 Profit (Loss)
12.31.14
AMERICAN FINANCE GROUP, INC. UNITED STATES INACTIVE - 100.00 100.00 17 17 - 17 -
ANIDA DESARROLLOS INMOBILIARIOS, S.L. SPAIN REAL ESTATE - 100.00 100.00 51 516 464 87 (35)
ANIDA GERMANIA IMMOBILIEN ONE, GMBH GERMANY REAL ESTATE - 100.00 100.00 4 7 - 7 -
ANIDA GRUPO INMOBILIARIO, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 271 1,987 1,717 742 (471)
ANIDA INMOBILIARIA, S.A. DE C.V. MEXICO INVESTMENT COMPANY - 100.00 100.00 155 133 - 122 11
ANIDA OPERACIONES SINGULARES, S.A. SPAIN REAL ESTATE - 100.00 100.00 244 4,583 4,316 643 (375)
ANIDA PROYECTOS INMOBILIARIOS, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 91 131 40 82 10
ANIDA SERVICIOS INMOBILIARIOS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 2 2 - 2 -
ANIDAPORT INVESTIMENTOS IMOBILIARIOS, UNIPESSOAL, LTDA PORTUGAL REAL ESTATE - 100.00 100.00 25 112 99 21 (7)
APLICA SOLUCIONES TECNOLOGICAS CHILE LIMITADA CHILE SERVICES - 100.00 100.00 - 1 - - -
APLICA TECNOLOGIA AVANZADA OPERADORA, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 5 14 9 4 -
APLICA TECNOLOGIA AVANZADA SERVICIOS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - 3 2 - -
APLICA TECNOLOGIA AVANZADA, S.A. DE C.V.- ATA MEXICO SERVICES 100.00 - 100.00 160 322 125 190 7
ARIZONA FINANCIAL PRODUCTS, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 805 806 1 802 2
ARRAHONA AMBIT, S.L. SPAIN REAL ESTATE - 100.00 100.00 - 76 112 (25) (12)
ARRAHONA IMMO, S.L. SPAIN REAL ESTATE - 100.00 100.00 53 291 204 75 12
ARRAHONA NEXUS, S.L. SPAIN REAL ESTATE - 100.00 100.00 - 234 327 (72) (21)
ARRAHONA RENT, S.L.U. SPAIN REAL ESTATE - 100.00 100.00 9 11 - 11 (1)
ARRELS CT FINSOL, S.A. SPAIN REAL ESTATE - 100.00 100.00 - 288 344 (22) (33)
ARRELS CT LLOGUER, S.A. SPAIN REAL ESTATE - 100.00 100.00 - 39 44 (2) (2)
ARRELS CT PATRIMONI I PROJECTES, S.A. SPAIN REAL ESTATE - 100.00 100.00 - 135 165 (28) (3)
ARRELS CT PROMOU, S.A. SPAIN INVESTMENT COMPANY - 100.00 100.00 - 19 28 (11) 2
AUMERAVILLA, S.L. SPAIN REAL ESTATE - 100.00 100.00 2 2 - 2 -
BAHIA SUR RESORT, S.C. SPAIN INACTIVE 99.95 - 99.95 1 1 - 1 -
BANCO BILBAO VIZCAYA ARGENTARIA (PORTUGAL), S.A. PORTUGAL BANKING 52.20 47.80 100.00 105 5,203 4,982 284 (64)
BANCO BILBAO VIZCAYA ARGENTARIA CHILE, S.A. CHILE BANKING - 68.18 68.18 682 16,275 15,275 903 97
BANCO BILBAO VIZCAYA ARGENTARIA URUGUAY, S.A. URUGUAY BANKING 100.00 - 100.00 110 2,603 2,433 157 13
BANCO CONTINENTAL, S.A. (1) PERU BANKING - 46.12 46.12 1,424 17,542 15,999 1,187 357
BANCO DE PROMOCION DE NEGOCIOS, S.A. SPAIN BANKING - 99.86 99.86 15 19 - 19 -
BANCO DEPOSITARIO BBVA, S.A. SPAIN BANKING - 100.00 100.00 2 2,709 2,667 21 22
BANCO INDUSTRIAL DE BILBAO, S.A. SPAIN BANKING - 99.93 99.93 97 153 13 126 14
BANCO OCCIDENTAL, S.A. SPAIN BANKING 49.43 50.57 100.00 17 18 - 18 -
BANCO PROVINCIAL OVERSEAS N.V. CURAÇAO BANKING - 100.00 100.00 51 586 533 53 -
BANCO PROVINCIAL S.A. - BANCO UNIVERSAL VENEZUELA BANKING 1.46 53.75 55.21 493 21,157 19,131 1,727 299
BANCOMER FINANCIAL SERVICES INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 2 2 - 2 -
BANCOMER FOREIGN EXCHANGE INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 6 7 2 3 3
BANCOMER PAYMENT SERVICES INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - - - -
BANCOMER TRANSFER SERVICES, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 34 67 32 25 9
BBV AMERICA, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 479 1,745 - 1,784 (39)
BBVA ASESORIAS FINANCIERAS, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 1 1 - 1 -
Impairment losses due to property, real estate and stocks, of Spanish Real Estate companies, according to Royal Decree-Law 10/2008 and successive, are not counted for purposes of Article 363 of the Companies Act Capital. (*) Information on foreign companies at exchange rate on December 31, 2014 (1) Full consolidation method is used according to accounting rules (see Glossary)
Additional Information on Consolidated Subsidiaries composing the BBVA Group (Continued)
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Millions of Euros(*)


% of Voting Rights
Controlled by the Bank		 Affiliate Entity Data
Company
                		 Location Activity Direct Indirect Total Net
Carrying
Amount		 Assets
12.31.14		 Liabilities
12.31.14		 Equity
12.31.14		 Profit (Loss)
12.31.14
BBVA ASSET MANAGEMENT ADMINISTRADORA GENERAL DE FONDOS S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 14 16 2 8 5
BBVA ASSET MANAGEMENT CONTINENTAL S.A. SAF (1) PERU FINANCIAL SERVICES - 46.12 46.12 15 20 5 12 3
BBVA ASSET MANAGEMENT, S.A. SOCIEDAD FIDUCIARIA (BBVA FIDUCIARIA) COLOMBIA FINANCIAL SERVICES - 100.00 100.00 31 34 3 25 6
BBVA ASSET MANAGEMENT, S.A., SGIIC SPAIN OTHER INVESTMENT COMPANIES 17.00 83.00 100.00 11 145 83 27 35
BBVA AUTOMERCANTIL, COMERCIO E ALUGER DE VEICULOS AUTOMOVEIS,LDA. PORTUGAL FINANCIAL SERVICES 100.00 - 100.00 5 20 15 5 -
BBVA AUTORENTING, S.A. SPAIN SERVICES 100.00 - 100.00 69 389 335 40 13
BBVA BANCO DE FINANCIACION S.A. SPAIN BANKING - 100.00 100.00 64 2,159 2,084 74 -
BBVA BANCO FRANCES, S.A. ARGENTINA BANKING 45.61 30.32 75.93 157 6,927 5,932 697 298
BBVA BANCOMER GESTION, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 26 43 16 11 15
BBVA BANCOMER OPERADORA, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 159 440 281 108 51
BBVA BANCOMER SEGUROS SALUD, S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 21 30 9 18 3
BBVA BANCOMER SERVICIOS ADMINISTRATIVOS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 16 101 85 11 6
BBVA BANCOMER USA, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 45 46 1 33 12
BBVA BANCOMER, S.A.,INSTITUCION DE BANCA MÚLTIPLE, GRUPO FINANCIERO BBVA BANCOMER MEXICO BANKING - 100.00 100.00 7,498 85,940 78,458 6,075 1,407
BBVA BRASIL BANCO DE INVESTIMENTO, S.A. BRASIL BANKING 100.00 - 100.00 16 37 3 31 2
BBVA BROKER, CORREDURIA DE SEGUROS Y REASEGUROS, S.A. SPAIN FINANCIAL SERVICES 99.94 0.06 100.00 - 24 6 13 5
BBVA CAPITAL FINANCE, S.A. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 37 36 - -
BBVA COLOMBIA, S.A. COLOMBIA BANKING 76.20 19.23 95.43 377 14,592 13,390 1,019 183
BBVA COMERCIALIZADORA LTDA. CHILE FINANCIAL SERVICES - 100.00 100.00 4 4 1 3 -
BBVA COMPASS BANCSHARES, INC UNITED STATES INVESTMENT COMPANY 100.00 - 100.00 9,754 9,966 103 9,512 351
BBVA COMPASS FINANCIAL CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 214 483 270 214 (1)
BBVA COMPASS INSURANCE AGENCY, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 131 133 2 126 5
BBVA CONSOLIDAR SEGUROS, S.A. ARGENTINA INSURANCES SERVICES 87.78 12.22 100.00 9 110 75 23 12
BBVA CONSULTING ( BEIJING) LIMITED CHINA FINANCIAL SERVICES - 100.00 100.00 - 2 1 1 -
BBVA CONSULTORIA, S.A. SPAIN SERVICES - 100.00 100.00 4 5 1 5 -
BBVA CONSUMER FINANCE ENTIDAD DE DESARROLLO A LA PEQUEÑA Y MICRO EMPRESA, EDPYME, S.A. (BBVA CONSUMER FINANCE - EDPYME) PERU FINANCIAL SERVICES - 66.32 66.32 15 52 34 19 (1)
BBVA CORREDORA TECNICA DE SEGUROS LIMITADA CHILE FINANCIAL SERVICES - 100.00 100.00 13 18 4 8 6
BBVA CORREDORES DE BOLSA LIMITADA CHILE SECURITIES DEALER - 100.00 100.00 50 589 538 84 (34)
BBVA DATA & ANALYTICS, S.L. SPAIN SERVICES - 100.00 100.00 - 3 2 - 1
BBVA DINERO EXPRESS, S.A.U SPAIN FINANCIAL SERVICES 100.00 - 100.00 2 5 1 4 -
BBVA DISTRIBUIDORA DE SEGUROS S.R.L. URUGUAY FINANCIAL SERVICES - 100.00 100.00 2 2 0 1 1
BBVA ELCANO EMPRESARIAL II, S.A. EN LIQUIDACION SPAIN IN LIQUIDATION 45.00 - 45.00 14 36 4 28 4
BBVA ELCANO EMPRESARIAL, S.A. EN LIQUIDACION SPAIN IN LIQUIDATION 45.00 - 45.00 14 36 4 28 4
BBVA FACTORING LIMITADA (CHILE) CHILE FINANCIAL SERVICES - 100.00 100.00 8 88 79 8 -
BBVA FINANCE (UK), LTD. UNITED KINGDOM IN LIQUIDATION - 100.00 100.00 3 12 - 12 -
BBVA FINANZIA, S.p.A ITALY FINANCIAL SERVICES 100.00 - 100.00 29 318 291 23 4
BBVA FRANCES ASSET MANAGMENT S.A. SOCIEDAD GERENTE DE FONDOS COMUNES DE INVERSIÓN. ARGENTINA FINANCIAL SERVICES - 100.00 100.00 8 19 6 7 5
BBVA FRANCES VALORES, S.A. ARGENTINA SECURITIES DEALER - 100.00 100.00 2 4 1 2 1
BBVA FUNDOS, S.GESTORA FUNDOS PENSOES,S.A. PORTUGAL PENSION FUNDS MANAGEMENT - 100.00 100.00 1 15 1 13 1
BBVA GEST, S.G.DE FUNDOS DE INVESTIMENTO MOBILIARIO, S.A. PORTUGAL SECURITIES DEALER - 100.00 100.00 1 8 - 8 -
Impairment losses due to property, real estate and stocks, of Spanish Real Estate companies, according to Royal Decree-Law 10/2008 and successive, are not counted for purposes of Article 363 of the Companies Act Capital. (*) Information on foreign companies at exchange rate on December 31, 2014 (1) Full consolidation method is used according to accounting rules (see Glossary)
Additional Information on Consolidated Subsidiaries composing the BBVA Group (Continued)
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Millions of Euros(*)


% of Voting Rights
Controlled by the Bank		 Affiliate Entity Data
Company
                    		 Location Activity Direct Indirect Total Net
Carrying
Amount		 Assets
12.31.14		 Liabilities
12.31.14		 Equity
12.31.14		 Profit (Loss)
12.31.14
BBVA GLOBAL FINANCE LTD. CAYMAN ISLANDS FINANCIAL SERVICES 100.00 - 100.00 - 395 391 4 -
BBVA GLOBAL MARKETS B.V. NETHERLANDS FINANCIAL SERVICES 100.00 - 100.00 - 592 592 - -
BBVA INMOBILIARIA E INVERSIONES, S.A. CHILE REAL ESTATE - 68.11 68.11 5 42 35 6 1
BBVA INSTITUIÇAO FINANCEIRA DE CREDITO, S.A. PORTUGAL FINANCIAL SERVICES 49.90 50.10 100.00 39 267 221 44 2
BBVA INTERNATIONAL LIMITED CAYMAN ISLANDS FINANCIAL SERVICES 100.00 - 100.00 - 12 9 3 -
BBVA INTERNATIONAL PREFERRED, S.A.U. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 1,772 1,772 1 -
BBVA INVERSIONES CHILE, S.A. CHILE INVESTMENT COMPANY 61.22 38.78 100.00 483 1,366 6 1,244 116
BBVA IRELAND PLC IRELAND FINANCIAL SERVICES 100.00 - 100.00 180 459 254 198 7
BBVA LEASIMO - SOCIEDADE DE LOCAÇAO FINANCEIRA, S.A. PORTUGAL FINANCIAL SERVICES - 100.00 100.00 9 12 3 9 -
BBVA LUXINVEST, S.A. LUXEMBOURG INVESTMENT COMPANY 36.00 64.00 100.00 256 275 7 143 125
BBVA MEDIACION OPERADOR DE BANCA-SEGUROS VINCULADO, S.A. SPAIN FINANCIAL SERVICES - 100.00 100.00 3 166 150 9 6
BBVA NOMINEES LIMITED UNITED KINGDOM SERVICES 95.00 - 95.00 - - - - -
BBVA PARAGUAY, S.A. PARAGUAY BANKING 100.00 - 100.00 23 1,726 1,584 119 23
BBVA PARTICIPACIONES MEJICANAS, S.L. SPAIN INVESTMENT COMPANY 99.00 1.00 100.00 - - - - -
BBVA PENSIONES, SA, ENTIDAD GESTORA DE FONDOS DE PENSIONES SPAIN PENSION FUNDS MANAGEMENT 100.00 - 100.00 13 67 35 16 16
BBVA PLANIFICACION PATRIMONIAL, S.L. SPAIN FINANCIAL SERVICES 80.00 20.00 100.00 - 1 - 1 -
BBVA PREVISIÓN AFP S.A. ADM.DE FONDOS DE PENSIONES BOLIVIA PENSION FUNDS MANAGEMENT 75.00 5.00 80.00 2 15 7 5 3
BBVA PROPIEDAD, S.A. SPAIN REAL ESTATE INVESTMENT COMPANY - 100.00 100.00 1,162 1,187 10 1,237 (61)
BBVA RE LIMITED IRELAND INSURANCES SERVICES - 100.00 100.00 1 87 45 34 8
BBVA REAL ESTATE MEXICO, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 - 1 1 (1) -
BBVA RENTAS E INVERSIONES LIMITADA CHILE INVESTMENT COMPANY - 100.00 100.00 191 192 - 158 34
BBVA RENTING, S.A. SPAIN FINANCIAL SERVICES 5.94 94.06 100.00 21 716 631 71 15
BBVA SECURITIES INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 149 2,903 2,754 121 28
BBVA SEGUROS COLOMBIA, S.A. COLOMBIA INSURANCES SERVICES 94.00 6.00 100.00 10 66 50 14 3
BBVA SEGUROS DE VIDA COLOMBIA, S.A. COLOMBIA INSURANCES SERVICES 94.00 6.00 100.00 14 417 320 68 29
BBVA SEGUROS DE VIDA, S.A. CHILE INSURANCES SERVICES - 100.00 100.00 52 227 174 50 3
BBVA SEGUROS, S.A., DE SEGUROS Y REASEGUROS SPAIN INSURANCES SERVICES 94.35 5.60 99.95 431 18,113 16,382 1,513 218
BBVA SENIOR FINANCE, S.A.U. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 11,585 11,584 1 -
BBVA SERVICIOS CORPORATIVOS LIMITADA CHILE SERVICES - 100.00 100.00 8 15 7 7 1
BBVA SERVICIOS, S.A. SPAIN COMERCIAL - 100.00 100.00 - 10 2 7 2
BBVA SOCIEDAD DE LEASING INMOBILIARIO, S.A. CHILE FINANCIAL SERVICES - 97.49 97.49 20 66 46 20 -
BBVA SOLUCIONES AVANZADAS DE ASESORAMIENTO Y GESTION, S.L. (**) SPAIN SERVICES - 100.00 100.00 - - 1 3 (3)
BBVA SUBORDINATED CAPITAL S.A.U. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 1,768 1,767 1 -
BBVA SUIZA, S.A. (BBVA SWITZERLAND) SWITZERLAND BANKING 39.72 60.28 100.00 67 927 786 127 15
BBVA TRADE, S.A. SPAIN INVESTMENT COMPANY - 100.00 100.00 6 34 13 13 8
BBVA U.S. SENIOR S.A.U. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 1,670 1,670 - -
BBVA VALORES COLOMBIA, S.A. COMISIONISTA DE BOLSA COLOMBIA SECURITIES DEALER - 100.00 100.00 4 5 1 3 1
BBVA VIDA, S.A.DE SEGUROS Y REASEGUROS SPAIN INSURANCES SERVICES 100.00 - 100.00 122 2,151 2,019 52 79
BBVA WEALTH SOLUTIONS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 5 5 - 6 (1)
BILBAO VIZCAYA HOLDING, S.A. SPAIN INVESTMENT COMPANY 89.00 11.00 100.00 35 175 56 114 6
Impairment losses due to property, real estate and stocks, of Spanish Real Estate companies, according to Royal Decree-Law 10/2008 and successive, are not counted for purposes of Article 363 of the Companies Act Capital. (*) Information on foreign companies at exchange rate on December 31, 2014 (**) This company has an equity loan from Blue Indico Investments, S.L.
Additional Information on Consolidated Subsidiaries composing the BBVA Group (Continued)
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Millions of Euros(*)


% of Voting Rights
Controlled by the Bank		 Affiliate Entity Data
Company
                  		 Location Activity Direct Indirect Total Net
Carrying
Amount		 Assets
12.31.14		 Liabilities
12.31.14		 Equity
12.31.14		 Profit (Loss)
12.31.14
BLUE INDICO INVESTMENTS, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 5 18 18 3 (2)
CAIXA DE MANLLEU PREFERENTS, S.A. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - - - - -
CAIXA TERRASSA SOCIETAT DE PARTICIPACIONS PREFERENTS, S.A.U. SPAIN FINANCIAL SERVICES 100.00 - 100.00 1 76 74 2 -
CAIXASABADELL PREFERENTS, S.A. SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 92 91 1 -
CAIXASABADELL TINELIA, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 41 42 - 41 -
CAPITAL INVESTMENT COUNSEL, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 12 13 - 11 2
CARTERA E INVERSIONES S.A., CIA DE SPAIN INVESTMENT COMPANY 100.00 - 100.00 92 88 56 34 (2)
CASA DE BOLSA BBVA BANCOMER, S.A. DE C.V. MEXICO SECURITIES DEALER - 100.00 100.00 66 74 8 31 35
CATALONIA GEBIRA, S.L, (**) SPAIN REAL ESTATE - 81.66 81.66 - 44 51 (6) -
CATALONIA PROMODIS 4, S.A. SPAIN REAL ESTATE - 100.00 100.00 - 14 17 5 (7)
CB TRANSPORT ,INC. UNITED STATES INACTIVE - 100.00 100.00 16 16 - 15 1
CDD GESTIONI, S.R.L. ITALY REAL ESTATE 100.00 - 100.00 5 6 - 6 -
CIA. GLOBAL DE MANDATOS Y REPRESENTACIONES, S.A. URUGUAY IN LIQUIDATION - 100.00 100.00 - - - - -
CIDESSA DOS, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 15 15 - 15 -
CIDESSA UNO, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 5 178 131 51 (5)
CIERVANA, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 53 61 2 53 6
COMERCIALIZADORA CORPORATIVA SAC PERU FINANCIAL SERVICES - 49.99 49.99 - 1 1 - -
COMERCIALIZADORA DE SERVICIOS FINANCIEROS, S.A. COLOMBIA SERVICES - 100.00 100.00 2 6 4 1 1
COMPASS ASSET ACCEPTANCE COMPANY, LLC UNITED STATES INACTIVE - 100.00 100.00 402 402 - 402 -
COMPASS AUTO RECEIVABLES CORPORATION UNITED STATES INACTIVE - 100.00 100.00 3 3 - 3 -
COMPASS BANK UNITED STATES BANKING - 100.00 100.00 9,673 70,583 60,911 9,343 330
COMPASS CAPITAL MARKETS, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 6,517 6,517 - 6,447 70
COMPASS CUSTODIAL SERVICES, INC. UNITED STATES INACTIVE - 100.00 100.00 - - - - -
COMPASS GP, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 40 50 10 39 -
COMPASS INVESTMENTS, INC. UNITED STATES INACTIVE - 100.00 100.00 - - - - -
COMPASS LIMITED PARTNER, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 5,673 5,674 1 5,605 67
COMPASS LOAN HOLDINGS TRS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 66 66 - 66 -
COMPASS MORTGAGE CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 2,492 2,547 54 2,456 36
COMPASS MORTGAGE FINANCING, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - - - -
COMPASS MULTISTATE SERVICES CORPORATION UNITED STATES INACTIVE - 100.00 100.00 3 3 - 3 -
COMPASS SOUTHWEST, LP UNITED STATES FINANCIAL SERVICES - 100.00 100.00 4,675 4,675 - 4,615 60
COMPASS TEXAS ACQUISITION CORPORATION UNITED STATES INACTIVE - 100.00 100.00 2 2 - 2 -
COMPASS TEXAS MORTGAGE FINANCING, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - - - -
COMPASS TRUST II UNITED STATES INACTIVE - 100.00 100.00 - - - - -
COMPAÑIA CHILENA DE INVERSIONES, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 580 781 1 778 3
COMPLEMENTOS INNOVACIÓN Y MODA, S.L. (***) SPAIN IN LIQUIDATION - 100.00 100.00 - - - - -
CONSOLIDAR A.F.J.P., S.A. ARGENTINA IN LIQUIDATION 46.11 53.89 100.00 - 6 5 1 (1)
CONSORCIO DE CASAS MEXICANAS, S.A.P.I. DE C.V. MEXICO REAL ESTATE - 99.99 99.99 1 26 13 13 1
Impairment losses due to property, real estate and stocks, of Spanish Real Estate companies, according to Royal Decree-Law 10/2008 and successive, are not counted for purposes of Article 363 of the Companies Act Capital. (*) Information on foreign companies at exchange rate on December 31, 2014 (**) This company has an equity loan from ARRELS CT PATRIMONI I PROYECTES, S.A. (***) This company has an equity loan from BBVA ELCANO EMPRESARIAL, S.C.R.S.A. and BBVA ELCANO EMPRESARIAL II, S.C.R.S.A. In liquidation.
Additional Information on Consolidated Subsidiaries composing the BBVA Group (Continued)
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Millions of Euros(*)


% of Voting Rights
Controlled by the Bank		 Affiliate Entity Data
Company
                    		 Location Activity Direct Indirect Total Net
Carrying
Amount		 Assets
12.31.14		 Liabilities
12.31.14		 Equity
12.31.14		 Profit (Loss)
12.31.14
CONTENTS AREA, S.L. SPAIN SERVICES - 100.00 100.00 6 6 1 6 -
CONTINENTAL BOLSA, SDAD. AGENTE DE BOLSA, S.A. (1) PERU SECURITIES DEALER - 46.12 46.12 7 10 2 7 1
CONTINENTAL DPR FINANCE COMPANY (1) CAYMAN ISLANDS FINANCIAL SERVICES - 100.00 100.00 - 322 322 - -
CONTINENTAL SOCIEDAD TITULIZADORA, S.A. (1) PERU FINANCIAL SERVICES - 46.12 46.12 1 1 - - -
CONTRATACION DE PERSONAL, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 5 10 5 4 -
COPROMED S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - - - - -
CORPORACION GENERAL FINANCIERA, S.A. SPAIN INVESTMENT COMPANY 100.00 - 100.00 510 1,188 1 966 221
DESARROLLO URBANISTICO DE CHAMARTIN, S.A. SPAIN REAL ESTATE - 75.54 75.54 70 107 15 93 (1)
DESITEL TECNOLOGIA Y SISTEMAS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 2 2 - 2 -
DEUTSCHE BANK MEXICO SA FIDEICOMISO F/1859 MEXICO FINANCIAL SERVICES - 100.00 100.00 - - - - -
DEUTSCHE BANK MEXICO SA FIDEICOMISO F/1860 MEXICO FINANCIAL SERVICES - 100.00 100.00 - - - - -
ECASA, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 11 13 2 6 5
ECOARENYS, S.L. (**) SPAIN REAL ESTATE - 50.00 50.00 - 16 53 (31) (6)
EL ENCINAR METROPOLITANO, S.A. SPAIN REAL ESTATE - 99.05 99.05 4 8 4 5 (1)
EL MILANILLO, S.A. (***) SPAIN REAL ESTATE - 100.00 100.00 11 8 1 7 -
EMPRENDIMIENTOS DE VALOR S.A. URUGUAY FINANCIAL SERVICES - 100.00 100.00 3 8 6 3 (1)
ENTRE2 SERVICIOS FINANCIEROS, E.F.C., S.A. SPAIN FINANCIAL SERVICES - 100.00 100.00 9 9 - 9 -
ESPAIS SABADELL PROMOCIONS INMOBILIARIES, S.A. SPAIN REAL ESTATE - 100.00 100.00 6 10 3 6 1
ESPANHOLA COMERCIAL E SERVIÇOS, LTDA. BRASIL IN LIQUIDATION 100.00 - 100.00 - - - 1 -
ESTACION DE AUTOBUSES CHAMARTIN, S.A. SPAIN SERVICES - 51.00 51.00 - - - - -
EUROPEA DE TITULIZACION, S.A., S.G.F.T. SPAIN FINANCIAL SERVICES 88.99 - 88.99 2 42 6 32 4
F/253863 EL DESEO RESIDENCIAL MEXICO REAL ESTATE - 65.00 65.00 - 1 - 1 -
F/403035-9 BBVA HORIZONTES RESIDENCIAL MEXICO REAL ESTATE - 65.00 65.00 - 1 - 1 -
FACILEASING EQUIPMENT, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 51 517 438 66 13
FACILEASING S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 70 728 668 52 8
FIDEICOMISO 28991-8 TRADING EN LOS MCADOS FINANCIEROS MEXICO FINANCIAL SERVICES - 100.00 100.00 3 3 - 3 -
FIDEICOMISO F/29764-8 SOCIO LIQUIDADOR DE OPERACIONES FINANCIERAS DERIVADAS MEXICO FINANCIAL SERVICES - 100.00 100.00 73 73 - 69 3
FIDEICOMISO HARES BBVA BANCOMER F/ 47997-2 MEXICO REAL ESTATE - 100.00 100.00 37 40 7 34 (1)
FIDEICOMISO N.989, EN THE BANK OF NEW YORK MELLON, S.A. INSTITUCION DE BANCA MULTIPLE, FIDUCIARIO (FIDEIC.00989 6 EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 2 201 199 (7) 9
FIDEICOMISO Nº 711, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 1ª EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 - 49 49 1 (1)
FIDEICOMISO Nº 752, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 2ª EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 - 24 24 - -
FIDEICOMISO Nº 781, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 3ª EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 - 161 103 50 8
FIDEICOMISO Nº 847, EN BANCO INVEX, S.A.,INSTITUCION DE BANCA MULTIPLE, INVEX GRUPO FINANCIERO, FIDUCIARIO (FIDEIC. INVEX 4ª EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 - 127 128 - (1)
FINANCEIRA DO COMERCIO EXTERIOR S.A.R. PORTUGAL INACTIVE 100.00 - 100.00 - - - - -
FINANCIERA AYUDAMOS S.A. DE C.V., SOFOMER MEXICO FINANCIAL SERVICES - 100.00 100.00 9 24 15 14 (5)
FORUM COMERCIALIZADORA DEL PERU, S.A. PERU SERVICES - 66.32 66.32 3 4 1 3 1
FORUM DISTRIBUIDORA DEL PERU, S.A. PERU FINANCIAL SERVICES - 66.32 66.32 6 26 19 6 -
FORUM DISTRIBUIDORA, S.A. CHILE FINANCIAL SERVICES - 75.52 75.52 17 127 107 17 3
FORUM SERVICIOS FINANCIEROS, S.A. CHILE FINANCIAL SERVICES - 75.50 75.50 133 1,098 941 117 41
FUTURO FAMILIAR, S.A. DE C.V. MEXICO SERVICES - 100.00 100 1 2 2 1 -
Impairment losses due to property, real estate and stocks, of Spanish Real Estate companies, according to Royal Decree-Law 10/2008 and successive, are not counted for purposes of Article 363 of the Companies Act Capital. (*) Information on foreign companies at exchange rate on December 31, 2014 (**) This company has an equity loan from PROMOTORA DEL VALLES, S.L. (***) This company has an equity loan from ANIDA OPERACIONES SINGULARES, S.A. (1) Full consolidation method is used according to accounting rules (see Glossary)
Additional Information on Consolidated Subsidiaries composing the BBVA Group (Continued)
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Millions of Euros(*)


% of Voting Rights
Controlled by the Bank		 Affiliate Entity Data
Company
                 		 Location Activity Direct Indirect Total Net
Carrying
Amount		 Assets
12.31.14		 Liabilities
12.31.14		 Equity
12.31.14		 Profit (Loss)
12.31.14
GESTION DE PREVISION Y PENSIONES, S.A. SPAIN PENSION FUNDS MANAGEMENT 60.00 - 60.00 9 33 4 21 7
GESTION Y ADMINISTRACION DE RECIBOS, S.A. - GARSA SPAIN SERVICES - 100.00 100.00 1 1 - 1 -
GOBERNALIA GLOBAL NET, S.A. SPAIN SERVICES - 100.00 100.00 1 7 3 3 1
GRAN JORGE JUAN, S.A. (**) SPAIN REAL ESTATE 100.00 - 100.00 424 979 592 383 5
GRANFIDUCIARIA COLOMBIA IN LIQUIDATION - 90.00 90.00 - - - - -
GRUPO FINANCIERO BBVA BANCOMER, S.A. DE C.V. MEXICO FINANCIAL SERVICES 99.97 - 99.97 6,677 9,340 1 7,581 1,758
GUARANTY BUSINESS CREDIT CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 30 30 - 30 -
GUARANTY PLUS HOLDING COMPANY UNITED STATES INVESTMENT COMPANY - 100.00 100.00 (33) 53 86 (32) (1)
GUARANTY PLUS PROPERTIES LLC-2 UNITED STATES FINANCIAL SERVICES - 100.00 100.00 38 38 - 38 -
GUARANTY PLUS PROPERTIES, INC-1 UNITED STATES FINANCIAL SERVICES - 100.00 100.00 10 10 - 10 -
HABITATGES INVERCAP, S.L. (***) SPAIN REAL ESTATE - 100.00 100.00 - - 1 (1) -
HABITATGES INVERVIC, S.L. (***) SPAIN REAL ESTATE - 35.00 35.00 - 1 12 (9) (1)
HABITATGES JUVIPRO, S.L. (***) SPAIN REAL ESTATE - 100.00 100.00 - 2 2 - -
HIPOTECARIA NACIONAL MEXICANA INCORPORATED UNITED STATES REAL ESTATE - 100.00 100.00 - - - - -
HIPOTECARIA NACIONAL, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 13 21 8 11 3
HOLDING CONTINENTAL, S.A. PERU INVESTMENT COMPANY 50.00 - 50.00 124 1,453 - 1,123 330
HOMEOWNERS LOAN CORPORATION UNITED STATES IN LIQUIDATION - 100.00 100.00 8 8 - 8 -
HUMAN RESOURCES PROVIDER, INC UNITED STATES SERVICES - 100.00 100.00 510 510 - 501 8
HUMAN RESOURCES SUPPORT, INC UNITED STATES SERVICES - 100.00 100.00 506 506 - 498 8
IMOBILIARIA DUQUE DE AVILA, S.A. PORTUGAL REAL ESTATE - 100.00 100.00 9 24 14 8 3
INMESP DESARROLLADORA, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 39 39 - 39 -
INMUEBLES Y RECUPERACIONES CONTINENTAL S.A (1) PERU REAL ESTATE - 46.12 46.12 2 9 7 - 2
INNOVATION 4 SECURITY, S.L. SPAIN SERVICES - 100.00 100.00 - 3 2 1 1
INVERAHORRO, S.L. SPAIN INVESTMENT COMPANY 100.00 - 100.00 19 77 57 20 (1)
INVERPRO DESENVOLUPAMENT, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 1 26 24 2 (1)
INVERSIONES ALDAMA, C.A. VENEZUELA IN LIQUIDATION - 100.00 100.00 - - - - -
INVERSIONES BANPRO INTERNATIONAL INC. N.V. CURAÇAO INVESTMENT COMPANY 48.00 - 48.00 11 55 2 53 -
INVERSIONES BAPROBA, C.A. VENEZUELA FINANCIAL SERVICES 100.00 - 100.00 1 1 - 1 -
INVERSIONES DE INNOVACION EN SERVICIOS FINANCIEROS, S.L. (****) SPAIN INVESTMENT COMPANY - 100.00 100.00 - 42 46 - (4)
INVERSIONES P.H.R.4, C.A. VENEZUELA INACTIVE - 60.46 60.46 - - - - -
INVESCO MANAGEMENT Nº 1, S.A. LUXEMBOURG FINANCIAL SERVICES - 100.00 100.00 8 8 - 8 -
INVESCO MANAGEMENT Nº 2, S.A. LUXEMBOURG FINANCIAL SERVICES - 100.00 100.00 - 4 17 (13) (1)
L'EIX IMMOBLES, S.L. (*****) SPAIN REAL ESTATE - 100.00 100.00 - 20 25 (4) (1)
LIQUIDITY ADVISORS, L.P UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1,029 1,029 - 1,024 6
MADIVA SOLUCIONES, S.L. SPAIN SERVICES - 100.00 100.00 9 1 - 1 -
MISAPRE, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 1 3 2 6 (5)
MOMENTUM SOCIAL INVESTMENT 2011, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 3 3 - 3 -
MOMENTUM SOCIAL INVESTMENT 2012, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 2 2 - 2 -
MOMENTUM SOCIAL INVESTMENT 2013, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 2 2 - 2 -
MOMENTUM SOCIAL INVESTMENT HOLDING, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 7 7 - 7 -
(*) Information on foreign companies at exchange rate on December 31, 2014 (**) This company has an equity loan from BBVA, S. A. (***) These companies has an equity loan from lnverpro Desenvolupament, S.L. (*****)This company has an equity loan from BILBAO VIZCAYA HOLDING, S.A. (*****)This company has an equity loan from PROMOTORA DEL VALLES, S.L. (1) Full consolidation method is used according to accounting rules (see Glossary)
Additional Information on Consolidated Subsidiaries composing the BBVA Group (Continued)
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Millions of Euros(*)



% of Voting Rights
Controlled by the Bank		 Affiliate Entity Data
Company
                     		 Location Activity Direct Indirect Total Net
Carrying
Amount		 Assets
12.31.14		 Liabilities
12.31.14		 Equity
12.31.14		 Profit (Loss)
12.31.14
MULTIASISTENCIA OPERADORA S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 - 1 1 - -
MULTIASISTENCIA SERVICIOS S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 1 3 2 1 -
MULTIASISTENCIA, S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 30 38 8 25 5
OPCION VOLCAN, S.A. MEXICO REAL ESTATE - 100.00 100.00 66 69 5 54 11
OPPLUS OPERACIONES Y SERVICIOS, S.A. SPAIN SERVICES 100.00 - 100.00 1 26 15 7 4
OPPLUS S.A.C PERU IN LIQUIDATION - 50.00 50.00 1 - - - -
PARCSUD PLANNER, S.L. SPAIN REAL ESTATE - 100.00 100.00 - 6 8 (1) (1)
PARTICIPACIONES ARENAL, S.L. SPAIN INACTIVE - 100.00 100.00 8 8 - 8 -
PECRI INVERSION S.A SPAIN OTHER INVESTMENT COMPANIES 100.00 - 100.00 88 88 - 95 (7)
PENSIONES BANCOMER, S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 278 4,119 3,842 241 37
PHOENIX LOAN HOLDINGS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 370 390 20 361 9
PI HOLDINGS NO. 1, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 78 78 - 78 -
PI HOLDINGS NO. 3, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 23 23 - 23 -
PRO-SALUD, C.A. VENEZUELA INACTIVE - 58.86 58.86 - - - - -
PROMOCION EMPRESARIAL XX, S.A. SPAIN INVESTMENT COMPANY 100.00 - 100.00 6 9 - 8 -
PROMOTORA DE RECURSOS AGRARIOS, S.A. SPAIN COMERCIAL 100.00 - 100.00 - - - - -
PROMOTORA DEL VALLES, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 - 166 256 (73) (17)
PROMOU CT 3AG DELTA, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 1 10 10 (2) 2
PROMOU CT EIX MACIA, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 - 10 12 (2) -
PROMOU CT GEBIRA, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 - 8 11 (3) -
PROMOU CT OPENSEGRE, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 - 16 31 (13) (2)
PROMOU CT VALLES, S.L. SPAIN REAL ESTATE - 100.00 100.00 2 10 8 3 (1)
PROMOU GLOBAL, S.L. (**) SPAIN REAL ESTATE - 100.00 100.00 - 72 111 (38) (1)
PROV-INFI-ARRAHONA, S.L. (***) SPAIN REAL ESTATE - 100.00 100.00 - 10 16 (5) (1)
PROVINCIAL DE VALORES CASA DE BOLSA, C.A. VENEZUELA SECURITIES DEALER - 90.00 90.00 1 3 1 3 (1)
PROVINCIAL SDAD.ADMIN.DE ENTIDADES DE INV.COLECTIVA, C.A. VENEZUELA FINANCIAL SERVICES - 100.00 100.00 1 1 - - -
PROVIVIENDA ENTIDAD RECAUDADORA Y ADMIN.DE APORTES, S.A. BOLIVIA PENSION FUNDS MANAGEMENT - 100.00 100.00 1 5 4 1 -
PROXIMA ALFA INVESTMENTS (USA) LLC UNITED STATES IN LIQUIDATION - 100.00 100.00 8 1 - 1 -
PROXIMA ALFA INVESTMENTS HOLDINGS (USA) II INC. UNITED STATES IN LIQUIDATION - 100.00 100.00 - - - - -
PROXIMA ALFA INVESTMENTS HOLDINGS (USA) INC. UNITED STATES IN LIQUIDATION 100.00 - 100.00 - 8 4 4 -
RENTRUCKS, ALQUILER Y SERVICIOS DE TRANSPORTE, S.A. SPAIN INACTIVE 99.32 - 99.32 2 3 1 5 (4)
RESIDENCIAL CUMBRES DE SANTA FE, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 9 10 1 7 1
RWHC, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 640 640 - 628 13
SCALDIS FINANCE, S.A. BELGIUM INVESTMENT COMPANY - 100.00 100.00 4 18 - 18 -
SEGUROS BANCOMER, S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 493 3,499 3,006 271 222
SEGUROS PROVINCIAL, C.A. VENEZUELA INSURANCES SERVICES - 100.00 100.00 42 53 12 47 (6)
SERVICIOS CORPORATIVOS BANCOMER, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 4 12 8 4 1
SERVICIOS CORPORATIVOS DE SEGUROS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 2 11 9 2 -
SERVICIOS EXTERNOS DE APOYO EMPRESARIAL, S.A DE C.V. MEXICO SERVICES - 100.00 100.00 5 16 11 5 1
SERVICIOS TECNOLOGICOS SINGULARES, S.A. SPAIN SERVICES - 100.00 100.00 2 8 5 2 -
Impairment losses due to property, real estate and stocks, of Spanish Real Estate companies, according to Royal Decree-Law 10/2008 and successive, are not counted for purposes of Article 363 of the Companies Act Capital. (*) Information on foreign companies at exchange rate on December 31, 2014 (**) This company has an equity loan from ARRELS CT PROMOU, S.A. (***)This company has an equity loan from PROMOTORA DEL VALLES S.L.
Additional Information on Consolidated Subsidiaries composing the BBVA Group (Continued) and consolidated structured entities
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Millions of Euros(*)


% of Voting Rights
Controlled by the Bank		 Affiliate Entity Data
Company
                		 Location Activity Direct Indirect Total Net
Carrying
Amount		 Assets
12.31.14		 Liabilities
12.31.14		 Equity
12.31.14		 Profit (Loss)
12.31.14
SIMPLE FINANCE TECHNOLOGY CORP. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 88 90 2 99 (11)
SOCIEDAD DE ESTUDIOS Y ANALISIS FINANCIERO.,S.A. SPAIN SERVICES 100.00 - 100.00 110 110 - 111 (1)
SOCIEDAD GESTORA DEL FONDO PUBLICO DE REGULACION DEL MERCADO HIPOTECARIO, S.A. SPAIN INACTIVE 77.20 - 77.20 - - - - -
SPORT CLUB 18, S.A. SPAIN INVESTMENT COMPANY 100.00 - 100.00 15 15 - 26 (11)
STATE NATIONAL CAPITAL TRUST I UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - 13 12 - -
STATE NATIONAL STATUTORY TRUST II UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - 9 8 - -
TEXAS LOAN SERVICES, LP. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1,033 1,033 - 1,025 8
TEXAS REGIONAL STATUTORY TRUST I UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1 43 41 1 -
TEXASBANC CAPITAL TRUST I UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1 21 21 1 -
TEXTIL TEXTURA, S.L. SPAIN COMERCIAL - 68.67 68.67 2 - - - -
TMF HOLDING INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 10 14 4 10 -
TUCSON LOAN HOLDINGS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 90 90 - 87 3
UNIDAD DE AVALUOS MEXICO, S.A. DE CV MEXICO FINANCIAL SERVICES - 100.00 100.00 3 5 2 2 -
UNITARIA GESTION DE PATRIMONIOS INMOBILIARIOS SPAIN REAL ESTATE - 100.00 100.00 2 3 - 3 -
UNIVERSALIDAD "E5" COLOMBIA FINANCIAL SERVICES - 100.00 100.00 - 2 - 2 -
UNIVERSALIDAD TIPS PESOS E-9 COLOMBIA FINANCIAL SERVICES - 100.00 100.00 - 149 121 24 4
UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS, S.A. SPAIN REAL ESTATE 100.00 - 100.00 - 983 839 338 (194)
UNO-E BANK, S.A. SPAIN BANKING 100.00 - 100.00 175 1,367 1,180 161 25
URBANIZADORA SANT LLORENC, S.A. SPAIN INACTIVE 60.60 - 60.60 - - - - -
VALANZA CAPITAL RIESGO S.G.E.C.R. S.A. UNIPERSONAL SPAIN VENTURE CAPITAL 100.00 - 100.00 1 14 7 7 -
Impairment losses due to property, real estate and stocks, of Spanish Real Estate companies, according to Royal Decree-Law 10/2008 and successive, are not counted for purposes of Article 363 of the Companies Act Capital. (*) Information on foreign companies at exchange rate on December 31, 2014

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