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financial statements 2014

APPENDIX IX Financial Statements of Banco Bilbao Vizcaya Argentaria, S.A.

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Balance sheets as of December 31, 2014 and 2013 of BBVA, S.A.
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Millions of Euros
ASSETS December
2014
December
2013
CASH AND BALANCES WITH CENTRAL BANKS 9,262 12,085
FINANCIAL ASSETS HELD FOR TRADING 64,495 56,631
Loans and advances to credit institutions - -
Loans and advances to customers - -
Debt securities 15,590 13,425
Other equity instruments 4,264 4,148
Trading derivatives 44,641 39,058
OTHER FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS - -
Loans and advances to credit institutions - -
Loans and advances to customers - -
Debt securities - -
Other equity instruments - -
AVAILABLE-FOR-SALE FINANCIAL ASSETS 53,709 43,301
Debt securities 47,393 38,151
Other equity instruments 6,316 5,150
LOANS AND RECEIVABLES 230,724 230,523
Loans and advances to credit institutions 23,813 20,410
Loans and advances to customers 203,865 208,313
Debt securities 3,046 1,800
HELD-TO-MATURITY INVESTMENTS - -
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK 121 99
HEDGING DERIVATIVES 2,112 2,307
NON-CURRENT ASSETS HELD FOR SALE 2,771 2,195
INVESTMENTS 26,153 25,602
Associates 261 818
Jointly controlled entities 3,948 3,865
Group entities 21,944 20,919
INSURANCE CONTRACTS LINKED TO PENSIONS 2,189 1,989
TANGIBLE ASSETS 1,539 1,651
Property, plants and equipment 1,534 1,646
For own use 1,534 1,646
Other assets leased out under an operating lease - -
Investment properties 5 5
INTANGIBLE ASSETS 874 927
Goodwill - -
Other intangible assets 874 927
TAX ASSETS 8,385 8,664
Current 986 1,402
Deferred 7,399 7,262
OTHER ASSETS 1,507 1,078
TOTAL ASSETS 403,841 387,052
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Millions of Euros
LIABILITIES AND EQUITY December
2014
December
2013
FINANCIAL LIABILITIES HELD FOR TRADING 50,976 43,599
Deposits from central banks - -
Deposits from credit institutions - -
Customer deposits - -
Debt certificates - -
Trading derivatives 43,826 38,531
Short positions 7,150 5,068
Other financial liabilities - -
OTHER FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS - -
Deposits from central banks - -
Deposits from credit institutions - -
Customer deposits - -
Debt certificates - -
Subordinated liabilities - -
Other financial liabilities - -
FINANCIAL LIABILITIES AT AMORTIZED COST 305,036 301,120
Deposits from central banks 18,400 25,487
Deposits from credit institutions 58,091 42,920
Customer deposits 187,731 188,013
Debt certificates 26,754 33,787
Subordinated liabilities 7,701 5,106
Other financial liabilities 6,359 5,807
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK - -
HEDGING DERIVATIVES 1,959 1,507
LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE - -
PROVISIONS 6,157 5,782
Provisions for pensions and similar obligations 5,267 4,878
Provisions for taxes and other legal contingencies - -
Provisions for contingent exposures and commitments 238 221
Other provisions 652 683
TAX LIABILITIES 1,655 978
Current 29 -
Deferred 1,626 978
OTHER LIABILITIES 1,444 1,474
TOTAL LIABILITIES 367,227 354,460
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Millions of Euros
LIABILITIES AND EQUITY (Continued) December
2014
December
2013
STOCKHOLDERS' EQUITY 34,923 32,708
Common Stock 3,024 2,835
Issued 3,024 2,835
Less: Unpaid and uncalled (-) - -
Share premium 23,992 22,111
Reserves 7,642 7,244
Other equity instruments 47 43
Equity component of compound financial instruments - -
Other equity instruments 47 43
Less: Treasury stock (-) (46) (20)
Net Income 1,105 1,263
Less: Dividends and remuneration (-) (841) (768)
VALUATION ADJUSTMENTS 1,691 (116)
Available-for-sale financial assets 1,781 (52)
Cash flow hedging (82) (45)
Hedges of net investments in foreign operations - -
Exchange differences 12 1
Non-current assets held-for-sale - -
Other valuation adjustments (20) (20)
TOTAL EQUITY 36,614 32,592
TOTAL LIABILITIES AND EQUITY 403,841 387,052
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Millions of Euros
MEMORANDUM ITEM December
2014
December
2013
CONTINGENT EXPOSURES 45,137 47,961
CONTINGENT COMMITMENTS 53,968 53,412
Income Statements for the year ended December 31, 2014 and 2013 of BBVA, S.A.
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Millions of Euros

December
2014
December
2013
INTEREST AND SIMILAR INCOME 6,763 7,877
INTEREST AND SIMILAR EXPENSES (3,493) (4,589)
NET INTEREST INCOME 3,270 3,288
DIVIDEND INCOME 2,848 2,257
FEE AND COMMISSION INCOME 1,773 1,775
FEE AND COMMISSION EXPENSES (308) (332)
NET GAINS (LOSSES) ON FINANCIAL ASSETS AND LIABILITIES 1,154 1,125
Financial instruments held for trading (8) 328
Other financial instruments at fair value through profit or loss - -
Other financial instruments not at fair value through profit or loss 1,162 797
Other - -
EXCHANGE DIFFERENCES (NET) 109 195
OTHER OPERATING INCOME 120 131
OTHER OPERATING EXPENSES (433) (641)
GROSS INCOME 8,533 7,798
ADMINISTRATION COSTS (3,664) (3,877)
Personnel expenses (2,194) (2,352)
General and administrative expenses (1,470) (1,525)
DEPRECIATION AND AMORTIZATION (517) (502)
PROVISION (NET) (872) (730)
IMPAIRMENT LOSSES ON FINANCIAL ASSETS (NET) (1,868) (3,254)
Loans and receivables (1,857) (3,224)
Other financial instruments not at fair value through profit or loss (11) (30)
NET OPERATING INCOME 1,612 (565)
IMPAIRMENT LOSSES ON OTHER ASSETS (NET) 40 145
Goodwill and other intangible assets - -
Other assets 40 145
GAINS (LOSSES) ON DERECOGNIZED ASSETS NOT CLASSIFIED AS NON-CURRENT ASSETS HELD FOR SALE (1) (127)
NEGATIVE GOODWILL - -
GAINS (LOSSES) IN NON-CURRENT ASSETS HELD FOR SALE NOT CLASSIFIED AS DISCONTINUED OPERATIONS (371) (370)
INCOME BEFORE TAX 1,280 (917)
INCOME TAX (175) 1,119
INCOME FROM CONTINUING TRANSACTIONS 1,105 202
INCOME FROM DISCONTINUED TRANSACTIONS (NET) - 1,061
NET INCOME FOR THE PERIOD 1,105 1,263
Statements of Recognized Income and Expenses for the year ended December 31, 2014 and 2013 of BBVA, S.A.
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Millions of Euros

December
2014
December
2013
NET INCOME FOR THE PERIOD 1,105 1,263
OTHER RECOGNIZED INCOME (EXPENSES) 1,807 861
ITEMS NOT SUBJECT TO RECLASSIFICATION TO P&L - (2)
Actuarial gains and losses from defined benefit pension plans - (3)
Non-current assets available for sale - -
Income tax related to items not subject to reclassification to p&l - 1
ITEMS SUBJECT TO RECLASSIFICATION TO P&L 1,807 863
Available-for-sale financial assets 2,770 1,294
Valuation gains/(losses) 3,124 1,360
Amounts removed to income statement (354) (66)
Reclassifications - -
Cash flow hedging (53) (8)
Valuation gains/(losses) (53) (7)
Amounts removed to income statement - (1)
Amounts removed to the initial carrying amount of the hedged items - -
Reclassifications - -
Hedges of net investment in foreign operations - -
Valuation gains/(losses) - -
Amounts removed to income statement - -
Reclassifications - -
Exchange differences 16 (17)
Valuation gains/(losses) 17 1
Amounts removed to income statement (1) (18)
Reclassifications - -
Non-current assets held for sale - -
Valuation gains/(losses) - -
Amounts removed to income statement - -
Reclassifications - -
Rest of recognized income and expenses - -
Income tax (926) (406)
TOTAL RECOGNIZED INCOME/EXPENSES 2,912 2,124
Statement of Changes in Equity for the year ended December 31, 2014 of BBVA, S.A.
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December 2014 Millions of Euros
Stockholder's Equity Valuation
Adjustments
Total
Equity
Common
Stock
Share premium Reserves Other
Equity
Instruments
Less:
Treasury
Stock
Profit
for the
Period
Less: Dividends and Remunerations Total
Stockholders'
Equity
Balances as of January 1, 2014 2,835 22,111 7,384 43 (20) 1,406 (768) 32,991 (116) 32,875
Effect of changes in accounting policies (*) - - (140) - - (143) - (283) - (283)
Effect of correction of errors (*) - - - - - - - - - -
Adjusted initial balance 2,835 22,111 7,244 43 (20) 1,263 (768) 32,708 (116) 32,592
Total income/expense recognized - - - - - 1,105 - 1,105 1,807 2,912
Other changes in equity 189 1,881 398 4 (26) (1,263) (73) 1,110 - 1,110
Common stock increase 189 1,881 (70) - - - - 2,000 - 2,000
Common stock reduction - - - - - - - - - -
Conversion of financial liabilities into capital - - - - - - - - - -
Increase of other equity instruments - - - 34 - - - 34 - 34
Reclassification of financial liabilities to other equity instruments - - - - - - - - - -
Reclassification of other equity instruments to financial liabilities - - - - - - - - - -
Dividend distribution - - - - - - (597) (597) - (597)
Transactions including treasury stock and other equity instruments (net) - - (7) - (26) - - (33) - (33)
Transfers between total equity entries - - 499 (4) - (1,263) 768 - - -
Increase/Reduction due to business combinations - - - - - - - - - -
Payments with equity instruments - - - - - - - - - -
Rest of increase/reductions in total equity - - (24) (26) - - (244) (294) - (294)
Of which:







-
Acquisition of the free allotment rights - - - - - - (244) (244) - (244)
Balances as of December 31, 2014 3,024 23,992 7,642 47 (46) 1,105 (841) 34,923 1,691 36,614
(*) Balances as of December 31, 2013, as previously published (see Note 1.3)
Statement of Changes in Equity for the year ended December 31, 2013 of BBVA, S.A.
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December 2013 Millions of Euros
Stockholder's Equity Valuation
Adjustments
Total
Equity
Common
Stock
Share premium Reserves Other
Equity
Instruments
Less:
Treasury
Stock
Profit
for the
Period
Less: Dividends and Remunerations Total
Stockholders'
Equity
Balances as of January 1, 2013 2,670 20,968 7,049 43 (41) 1,428 (1,334) 30,783 (977) 29,806
Effect of changes in accounting policies - - (123) - - (17) - (140) - (140)
Effect of correction of errors - - - - - - - - - -
Adjusted initial balance 2,670 20,968 6,926 43 (41) 1,411 (1,334) 30,643 (977) 29,666
Total income/expense recognized - - - - - 1,263 - 1,263 861 2,124
Other changes in equity 165 1,143 318 - 21 (1,411) 566 802 - 802
Common stock increase 71 - (71) - - - - - - -
Common stock reduction - - - - - - - - - -
Conversion of financial liabilities into capital 94 1,143 - - - - - 1,237 - 1,237
Increase of other equity instruments - - - 27 - - - 27 - 27
Reclassification of financial liabilities to other equity instruments - - - - - - - - - -
Reclassification of other equity instruments to financial liabilities - - - - - - - - - -
Dividend distribution - - - - - - (607) (607) - (607)
Transactions including treasury stock and other equity instruments (net) - - - - 21 - - 21 - 21
Transfers between total equity entries - - 90 (13) - (1,411) 1,334 - - -
Increase/Reduction due to business combinations - - 308 - - - - 308 - 308
Payments with equity instruments - - - - - - - - - -
Rest of increase/reductions in total equity - - (9) (14) - - (161) (184) - (184)
Of which: - - - - - - -
-
Acquisition of the free allotment rights - - - - - - (161) (161) - (161)
Balances as of December 31, 2013 2,835 22,111 7,244 43 (20) 1,263 (768) 32,708 (116) 32,592
(*) Balances as of December 31, 2012, as previously published (see Note 1.3)
Cash Flows Statements for the year ended December 31, 2014 and 2013 of BBVA, S.A.
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Millions of Euros

December
2014
December
2013
CASH FLOW FROM OPERATING ACTIVITIES (1) (4,709) 3,912
Profit for the period 1,105 1,263
Adjustments to obtain the cash flow from operating activities: 4,749 3,885
Amortization 517 502
Other adjustments 4,232 3,383
Net increase/decrease in operating assets (18,714) (13,597)
Financial assets held for trading (7,864) (7,139)
Other financial assets at fair value through profit or loss - -
Available-for-sale financial assets (10,408) 10,203
Loans and receivables (201) (6,506)
Other operating assets (241) (10,155)
Net increase/decrease in operating liabilities 7,976 (13,798)
Financial liabilities held for trading 7,377 (9,835)
Other financial liabilities designated at fair value through profit or loss - -
Financial liabilities at amortized cost 1,250 (4,388)
Other operating liabilities (651) 425
Collection/Payments for income tax 175 (1,035)
CASH FLOWS FROM INVESTING ACTIVITIES (2) (1,711) (3,101)
Investment 2,194 6,957
Tangible assets 156 517
Intangible assets 265 498
Investments 714 4,895
Subsidiaries and other business units - -
Non-current assets held for sale and associated liabilities 1,059 1,047
Held-to-maturity investments - -
Other settlements related to investing activities - -
Divestments 483 3,856
Tangible assets 14 28
Intangible assets - -
Investments 147 1,359
Subsidiaries and other business units - -
Non-current assets held for sale and associated liabilities 322 2,030
Held-to-maturity investments - 439
Other collections related to investing activities - -
CASH FLOWS FROM FINANCING ACTIVITIES (3) 3,749 168
Investment 4,108 3,735
Dividends 772 1,313
Subordinated liabilities 678 88
Treasury stock amortization - -
Treasury stock acquisition 2,658 2,325
Other items relating to financing activities - 9
Divestments 7,857 3,903
Subordinated liabilities 3,015 1,559
Common stock increase 2,000 -
Treasury stock disposal 2,623 2,344
Other items relating to financing activities 219 -
EFFECT OF EXCHANGE RATE CHANGES ON CASH OR CASH EQUIVALENTS (4) (152) 27
NET INCREASE/DECREASE IN CASH OR CASH EQUIVALENTS (1+2+3+4) (2,823) 1,006
CASH OR CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 12,085 11,079
CASH OR CASH EQUIVALENTS AT END OF THE PERIOD 9,262 12,085
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Millions of Euros
COMPONENTS OF CASH AND EQUIVALENTS AT END OF THE PERIOD December
2014
December
2013
Cash 726 659
Balance of cash equivalent in central banks 8,536 11,426
Other financial assets - -
Less: Bank overdraft refundable on demand - -
TOTAL CASH OR CASH EQUIVALENTS AT END OF THE PERIOD 9,262 12,085

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