Highlights in 2013
- The improved economic climate has started to be reflected in the stabilization of sales and prices in the sector.
- Another reduction in BBVA’s net exposure to the real-estate sector.
- Increased rate of growth in sales of real-estate assets.
- Limited risks, but affected by refinanced assets.
Focus on sales
Income statement
(Million euros)
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Real-estate activity in Spain | |||
|---|---|---|---|---|
|
|
2013 | Δ% | 2012 | 2011 |
| Net interest income | (3) | (87.1) | (20) | 104 |
| Net fees and commissions | 8 | (54.0) | 18 | 22 |
| Net trading income | 67 | n.m. | (29) | 12 |
| Other income/expenses | (111) | 108.1 | (53) | (14) |
| Gross income | (38) | (55.0) | (84) | 124 |
| Operating expenses | (152) | 20.5 | (126) | (101) |
| Personnel expenses | (86) | 44.9 | (60) | (43) |
| General and administrative expenses | (43) | 0.6 | (43) | (45) |
| Depreciation and amortization | (23) | (4.7) | (24) | (13) |
| Operating income | (190) | (9.7) | (211) | 23 |
| Impairment on financial assets (net) | (643) | (83.1) | (3,799) | (481) |
| Provisions (net) and other gains (losses) | (1,008) | (40.6) | (1,695) | (757) |
| Income before tax | (1,840) | (67.7) | (5,705) | (1,216) |
| Income tax | 595 | (64.1) | 1,659 | 405 |
| Net income | (1,245) | (69.2) | (4,046) | (810) |
| Non-controlling interests | (9) | n.m. | 3 | 2 |
| Net attributable profit | (1,254) | (69.0) | (4,044) | (809) |
Balance sheet
(Million euros)
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Real-estate activity in Spain | |||
|---|---|---|---|---|
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31-12-13 | Δ% | 31-12-12 | 31-12-11 |
| Cash and balances with central banks | 6 | 73.9 | 4 | - |
| Financial assets | 1,159 | 3.4 | 1,121 | 1,144 |
| Loans and receivables | 10,540 | (14.9) | 12,384 | 13,788 |
| Loans and advances to customers | 10,559 | (14.7) | 12,384 | 13,788 |
| Loans and advances to credit institutions and others | (19) | - | - | - |
| Inter-area positions | - | - | - | - |
| Tangible assets | 1,661 | (10.0) | 1,846 | 1,566 |
| Other assets | 7,196 | 9.6 | 6,568 | 6,059 |
| Total assets/Liabilities and equity | 20,563 | (6.2) | 21,923 | 22,558 |
| Deposits from central banks and credit institutions | - | - | - | - |
| Deposits from customers | 103 | (78.6) | 479 | 241 |
| Debt certificates | - | - | 13 | - |
| Subordinated liabilities | 556 | (14.7) | 651 | 2,097 |
| Inter-area positions | 17,677 | (1.0) | 17,857 | 16,407 |
| Financial liabilities held for trading | - | - | - | - |
| Other liabilities | - | - | - | - |
| Economic capital allocated | 2,227 | (23.8) | 2,922 | 3,812 |
