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financial statements 2015

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

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Balance sheets as of December 31, 2015 and 2014 of BBVA, S.A.
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Millions of Euros
ASSETS December
2015		 December
2014
CASH AND BALANCES WITH CENTRAL BANKS 11,108 9,262
FINANCIAL ASSETS HELD FOR TRADING 58,606 64,495
Loans and advances to credit institutions - -
Loans and advances to customers - -
Debt securities 14,133 15,590
Other equity instruments 3,974 4,264
Trading derivatives 40,499 44,641
OTHER FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS - -
AVAILABLE-FOR-SALE FINANCIAL ASSETS 50,601 53,709
Debt securities 46,583 47,393
Other equity instruments 4,018 6,316
LOANS AND RECEIVABLES 226,863 230,724
Loans and advances to credit institutions 25,228 23,813
Loans and advances to customers 197,422 203,865
Debt securities 4,213 3,046
HELD-TO-MATURITY INVESTMENTS - -
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK 54 121
HEDGING DERIVATIVES 1,714 2,112
NON-CURRENT ASSETS HELD FOR SALE 2,340 2,771
INVESTMENTS 31,599 26,153
Associates 396 261
Jointly controlled entities 18 3,948
Group entities 31,185 21,944
INSURANCE CONTRACTS LINKED TO PENSIONS 2,151 2,189
TANGIBLE ASSETS 1,521 1,539
Property, plants and equipment 1,516 1,534
For own use 1,516 1,534
Other assets leased out under an operating lease - -
Investment properties 5 5
INTANGIBLE ASSETS 853 874
Goodwill - -
Other intangible assets 853 874
TAX ASSETS 8,194 8,385
Current 652 986
Deferred 7,542 7,399
OTHER ASSETS 1,699 1,507
TOTAL ASSETS 397,303 403,841
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Millions of Euros
LIABILITIES AND EQUITY December
2015		 December
2014
FINANCIAL LIABILITIES HELD FOR TRADING 46,973 50,976
Deposits from central banks - -
Deposits from credit institutions - -
Customer deposits - -
Debt certificates - -
Trading derivatives 39,720 43,826
Short positions 7,253 7,150
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 303,095 305,036
Deposits from central banks 19,642 18,400
Deposits from credit institutions 55,462 58,091
Customer deposits 187,118 187,731
Debt certificates 25,775 26,754
Subordinated liabilities 8,295 7,701
Other financial liabilities 6,803 6,359
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK - -
HEDGING DERIVATIVES 1,542 1,959
LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE - -
PROVISIONS 6,209 6,157
Provisions for pensions and similar obligations 5,177 5,267
Provisions for taxes and other legal contingencies - -
Provisions for contingent exposures and commitments 263 238
Other provisions 769 652
TAX LIABILITIES 1,225 1,655
Current 24 29
Deferred 1,201 1,626
OTHER LIABILITIES 1,439 1,444
TOTAL LIABILITIES 360,483 367,227
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Millions of Euros
LIABILITIES AND EQUITY (Continued) December
2015		 December
2014
STOCKHOLDERS' EQUITY 36,439 34,923
Common Stock 3,120 3,024
Issued 3,120 3,024
Less: Unpaid and uncalled (-) - -
Share premium 23,992 23,992
Reserves 7,810 7,642
Other equity instruments 28 47
Equity component of compound financial instruments - -
Other equity instruments 28 47
Less: Treasury stock (-) (19) (46)
Net Income 2,864 1,105
Less: Dividends and remuneration (-) (1,356) (841)
VALUATION ADJUSTMENTS 381 1,691
Available-for-sale financial assets 458 1,781
Cash flow hedging (75) (82)
Hedges of net investments in foreign operations                                         - -
Exchange differences 21 12
Non-current assets held-for-sale - -
Other valuation adjustments (23) (20)
TOTAL EQUITY 36,820 36,614
TOTAL LIABILITIES AND EQUITY 397,303 403,841
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MEMORANDUM ITEM December
2015		 December
2014
CONTINGENT EXPOSURES 39,850 45,137
CONTINGENT COMMITMENTS                        58,255 53,968
Statements of Recognized Income and Expenses for the year ended December 31, 2015 and 2014 of BBVA, S.A.
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Millions of Euros

December
2015		 December
2014
NET INCOME FOR THE PERIOD 2,864 1,105
OTHER RECOGNIZED INCOME (EXPENSES) (1,310) 1,807
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 (1,308) 1,807
Available-for-sale financial assets (1,890) 2,770
Valuation gains/(losses) (723) 3,124
Amounts removed to income statement (1,167) (354)
Reclassifications - -
Cash flow hedging 10 (53)
Valuation gains/(losses) 19 (53)
Amounts removed to income statement (9) -
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 12 16
Valuation gains/(losses) 29 17
Amounts removed to income statement (17) (1)
Reclassifications - -
Non-current assets held for sale - -
Valuation gains/(losses) - -
Amounts removed to income statement - -
Reclassifications - -
Rest of recognized income and expenses - -
Income tax 560 (926)
TOTAL RECOGNIZED INCOME/EXPENSES 1,554 2,912
Statement of Changes in Equity for the year ended December 31, 2015 of BBVA, S.A.
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Millions of Euros

Stockholder's Equity

December 2015 Common
Stock		 Share premium Reserves Other
Equity
Instruments		 Less:
Treasury
Stock		 Profit
for the
Period		 Less: Dividends and Remunerations Total
Stockholders'
Equity		 Valuation
Adjustments		 Total
Equity
Balances as of January 1, 2015 3,024 23,992 7,642 47 (46) 1,105 (841) 34,923 1,691 36,614
Effect of changes in accounting policies (*) - - - - - - - - - -
Effect of correction of errors (*) - - - - - - - - - -
Adjusted initial balance 3,024 23,992 7,642 47 (46) 1,105 (841) 34,923 1,691 36,614
Total income/expense recognized - - - - - 2,864 - 2,864 (1,310) 1,554
Other changes in equity 96 - 168 (19) 27 (1,105) (515) (1,348) - (1,348)
Common stock increase 96 - (96) - - - - - - -
Common stock reduction - - - - - - - - - -
Conversion of financial liabilities into capital - - - - - - - - - -
Increase of other equity instruments - - - 16 - - - 16 - 16
Reclassification of financial liabilities to other equity instruments - - - - - - - - - -
Reclassification of other equity instruments to financial liabilities - - - - - - - - - -
Dividend distribution - - - - - - (1,225) (1,225) - (1,225)
Transactions including treasury stock and other equity instruments (net) - - (1) - 27 - - 26 - 26
Transfers between total equity entries - - 272 (8) - (1,105) 841 - - -
Increase/Reduction due to business combinations - - - - - - - - - -
Payments with equity instruments - - - - - - - - - -
Rest of increase/reductions in total equity - - (7) (27) - - (131) (165) - (165)
Of which: - - - - - - - - - -
Acquisition of the free allotment rights - - - - - - (131) (131) - (131)
Balances as of Diciembre 31, 2015 3,120 23,992 7,810 28 (19) 2,864 (1,356) 36,439 381 36,820
Statement of Changes in Equity for the year ended December 31, 2015 of BBVA, S.A.
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December 2014 Millions of Euros
Stockholder's Equity

Common
Stock		 Share premium Reserves Other
Equity
Instruments		 Less:
Treasury
Stock		 Profit
for the
Period		 Less: Dividends and Remunerations Total
Stockholders'
Equity		 Valuation
Adjustments		 Total
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 Diciembre 31, 2014 3,024 23,992 7,642 47 (46) 1,105 (841) 34,923 1,691 36,614
Cash Flows Statements for the year ended December 31, 2015 and 2014 of BBVA, S.A.
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Millions of Euros
December
2015		 December
2014
CASH FLOW FROM OPERATING ACTIVITIES (1) 4,706 (4,709)
Profit for the period 2,864 1,105
Adjustments to obtain the cash flow from operating activities: (1,770) 4,749
Amortization 519 517
Other adjustments (2,289) 4,232
Net increase/decrease in operating assets 11,514 (18,714)
Financial assets held for trading 5,889 (7,864)
Other financial assets at fair value through profit or loss - -
Available-for-sale financial assets 1,564 (10,408)
Loans and receivables 3,861 (201)
Other operating assets 200 (241)
Net increase/decrease in operating liabilities (8,090) 7,976
Financial liabilities held for trading (4,003) 7,377
Other financial liabilities designated at fair value through profit or loss - -
Financial liabilities at amortized cost (2,975) 1,250
Other operating liabilities (1,112) (651)
Collection/Payments for income tax 188 175
CASH FLOWS FROM INVESTING ACTIVITIES (2) (2,257) (1,711)
Investment 5,623 2,194
Tangible assets 211 156
Intangible assets 298 265
Investments 4,113 714
Subsidiaries and other business units - -
Non-current assets held for sale and associated liabilities 1,001 1,059
Held-to-maturity investments - -
Other settlements related to investing activities - -
Divestments 3,366 483
Tangible assets 12 14
Intangible assets - -
Investments 62 147
Subsidiaries and other business units - -
Non-current assets held for sale and associated liabilities 1,249 322
Held-to-maturity investments - -
Other collections related to investing activities 2,043 -
CASH FLOWS FROM FINANCING ACTIVITIES (3) (302) 3,749
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Millions of Euros
CASH FLOWS STATEMENTS (Continued) December
2015		 December
2014
CASH FLOWS FROM FINANCING ACTIVITIES (3) (302) 3,749
Investment 4,124 4,108
Dividends 916 772
Subordinated liabilities 767 678
Treasury stock amortization - -
Treasury stock acquisition 2,297 2,658
Other items relating to financing activities 144 -
Divestments 3,822 7,857
Subordinated liabilities 1,500 3,015
Common stock increase - 2,000
Treasury stock disposal 2,322 2,623
Other items relating to financing activities - 219
EFFECT OF EXCHANGE RATE CHANGES ON CASH OR CASH EQUIVALENTS (4) (301) (152)
NET INCREASE/DECREASE IN CASH OR CASH EQUIVALENTS (1+2+3+4) 1,846 (2,823)
CASH OR CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 9,262 12,085
CASH OR CASH EQUIVALENTS AT END OF THE PERIOD 11,108 9,262
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Millions of Euros
COMPONENTS OF CASH AND EQUIVALENTS AT END OF THE PERIOD December
2015		 December
2014
Cash 825 726
Balance of cash equivalent in central banks 10,283 8,536
Other financial assets - -
Less: Bank overdraft refundable on demand - -
TOTAL CASH OR CASH EQUIVALENTS AT END OF THE PERIOD 11,108 9,262

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