Appendices

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

% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net carrying
amount		 Equity excluding profit
(loss)
31.12.19		 Profit (loss) 31.12.19
ACTIVOS MACORP SL SPAIN REAL ESTATE 50.63 49.37 100.00 21 21 1
ALCALA 120 PROMOC. Y GEST.IMMOB. S.L. SPAIN REAL ESTATE - 100.00 100.00 19 17 1
ANIDA GRUPO INMOBILIARIO SL SPAIN INVESTMENT COMPANY 100.00 - 100.00 1,538 1,625 (73)
ANIDA INMOBILIARIA, S.A. DE C.V. MEXICO INVESTMENT COMPANY - 100.00 100.00 99 71 9
ANIDA OPERACIONES SINGULARES, S.A. SPAIN REAL ESTATE - 100.00 100.00 1,444 1,504 (57)
ANIDA PROYECTOS INMOBILIARIOS, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 43 42 1
ANIDAPORT INVESTIMENTOS IMOBILIARIOS, UNIPESSOAL, LTDA PORTUGAL REAL ESTATE - 100.00 100.00 27 8 (1)
ANTHEMIS BBVA VENTURE PARTNERSHIP LLP UNITED KINGDOM INVESTMENT COMPANY - 100.00 100.00 4 4 (2)
APLICA NEXTGEN OPERADORA S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - (3) 4
APLICA NEXTGEN SERVICIOS S.A. DE C.V MEXICO SERVICES - 100.00 100.00 - - -
APLICA TECNOLOGIA AVANZADA SA DE CV MEXICO SERVICES 100.00 - 100.00 203 219 8
ARIZONA FINANCIAL PRODUCTS, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 872 872 -
ARRAHONA AMBIT, S.L. SPAIN REAL ESTATE - 100.00 100.00 12 24 (2)
ARRAHONA IMMO, S.L. SPAIN REAL ESTATE - 100.00 100.00 53 114 -
ARRAHONA NEXUS, S.L. SPAIN REAL ESTATE - 100.00 100.00 58 64 1
ARRAHONA RENT, S.L.U. SPAIN REAL ESTATE - 100.00 100.00 9 11 -
ARRELS CT FINSOL, S.A. SPAIN REAL ESTATE - 100.00 100.00 64 79 -
ARRELS CT LLOGUER, S.A. SPAIN REAL ESTATE - 100.00 100.00 5 6 -
ARRELS CT PATRIMONI I PROJECTES, S.A. SPAIN REAL ESTATE - 100.00 100.00 22 24 -
ARRELS CT PROMOU SA SPAIN REAL ESTATE - 100.00 100.00 28 37 (4)
AZLO BUSINESS, INC UNITED STATES SERVICES - 100.00 100.00 5 19 (14)
BAHIA SUR RESORT S.C. SPAIN INACTIVE 99.95 - 99.95 - 1 -
BANCO BBVA ARGENTINA S.A. ARGENTINA BANKING 39.97 26.58 66.55 157 963 214
BANCO BILBAO VIZCAYA ARGENTARIA URUGUAY SA URUGUAY BANKING 100.00 - 100.00 110 164 41
BANCO INDUSTRIAL DE BILBAO SA SPAIN BANKING - 99.93 99.93 47 45 2
BANCO OCCIDENTAL SA SPAIN BANKING 49.43 50.57 100.00 17 18 -
BANCO PROVINCIAL OVERSEAS NV CURAÇAO BANKING - 100.00 100.00 51 45 6
BANCO PROVINCIAL SA - BANCO UNIVERSAL VENEZUELA BANKING 1.46 53.75 55.21 36 132 (7)
BBV AMERICA SL SPAIN INVESTMENT COMPANY 100.00 - 100.00 79 611 16
BBVA (SUIZA) SA SWITZERLAND BANKING 100.00 - 100.00 98 114 7
BBVA AGENCIA DE SEGUROS COLOMBIA LTDA COLOMBIA INSURANCES SERVICES - 100.00 100.00 - 0 -
BBVA ASSET MANAGEMENT SA SAF PERU FINANCIAL SERVICES - 100.00 100.00 10 6 4
BBVA ASSET MANAGEMENT SA SGIIC SPAIN OTHER INVESTMENT COMPANIES 100.00 - 100.00 43 (58) 114
BBVA ASSET MANAGEMENT SA SOCIEDAD FIDUCIARIA (BBVA FIDUCIARIA) COLOMBIA FINANCIAL SERVICES - 100.00 100.00 31 21 10
BBVA AUTOMERCANTIL COMERCIO E ALUGER DE VEICULOS AUTOMOVEIS LDA. PORTUGAL FINANCIAL SERVICES 100.00 - 100.00 6 4 1
BBVA BANCO CONTINENTAL SA (1) PERU BANKING - 46.12 46.12 1,139 2,041 439
BBVA BANCOMER GESTION, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 19 11 8
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2019. In the carrying amount (net of provision), the Group´s ownership percentage has been applied, without considering the impairment of goodwill. Information on foreign companies at exchange rate as of December 31, 2019.
  • (**) In accordance with Article 3 of Royal Decree 1159/2010, of September 17, in order to determine the state, the voting power relating to subsidiaries was added to the voting power directly held by the parent. Therefore, the number of votes corresponding to the parent company (including indirect control subsidiaries), corresponds to each subsidiary holding a direct ownership interest.
  • (1) Full consolidation method is used according to accounting rules (see Glossary)

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Additional information on subsidiaries and structured entities composing the BBVA Group (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding profit
(loss)
31.12.19		 Profit (loss) 31.12.19
BBVA BANCOMER OPERADORA SA DE CV MEXICO SERVICES - 100.00 100.00 21 4 23
BBVA BANCOMER SA INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA BANCOMER MEXICO BANKING - 100.00 100.00 10,124 7,549 2,244
BBVA BANCOMER SEGUROS SALUD SA DE CV MEXICO INSURANCES SERVICES - 100.00 100.00 13 14 (1)
BBVA BANCOMER SERVICIOS ADMINISTRATIVOS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 50 53 18
BBVA BOLSA SOCIEDAD AGENTE DE BOLSA S.A. PERU SECURITIES DEALER - 100.00 100.00 5 4 1
BBVA BRASIL BANCO DE INVESTIMENTO SA BRAZIL BANKING 100.00 - 100.00 16 25 -
BBVA BROKER CORREDURIA DE SEGUROS Y REASEGUROS SA SPAIN FINANCIAL SERVICES 99.94 0.06 100.00 - 10 5
BBVA BROKER SA ARGENTINA INSURANCES SERVICES - 99.96 99.96 - 3 4
BBVA COLOMBIA SA COLOMBIA BANKING 77.41 18.06 95.47 355 1,186 229
BBVA CONSOLIDAR SEGUROS SA ARGENTINA INSURANCES SERVICES 87.78 12.22 100.00 8 21 12
BBVA CONSULTING ( BEIJING) LIMITED CHINA FINANCIAL SERVICES - 100.00 100.00 2 2 -
BBVA CONSUMER FINANCE ENTIDAD DE DESARROLLO A LA PEQUEÑA Y MICRO EMPRESA EDPYME SA (BBVA CONSUMER FINANCE - EDPYME) PERU FINANCIAL SERVICES - 100.00 100.00 26 20 5
BBVA DATA & ANALYTICS SL SPAIN SERVICES - 100.00 100.00 6 3 -
BBVA DISTRIBUIDORA DE SEGUROS S.R.L. URUGUAY FINANCIAL SERVICES - 100.00 100.00 5 3 2
BBVA FINANCIAL CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 231 227 2
BBVA FINANZIA SPA ITALY IN LIQUIDATION 100.00 - 100.00 3 4 -
BBVA FOREIGN EXCHANGE INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 22 17 5
BBVA FRANCES ASSET MANAGMENT S.A. SOCIEDAD GERENTE DE FONDOS COMUNES DE INVERSIÓN. ARGENTINA FINANCIAL SERVICES - 100.00 100.00 14 11 2
BBVA FUNDOS S.GESTORA FUNDOS PENSOES SA PORTUGAL PENSION FUNDS MANAGEMENT 100.00 - 100.00 8 6 2
BBVA GLOBAL FINANCE LTD CAYMAN ISLANDS FINANCIAL SERVICES 100.00 - 100.00 - 5 -
BBVA GLOBAL MARKETS BV NETHERLANDS FINANCIAL SERVICES 100.00 - 100.00 - - -
BBVA HOLDING CHILE SA CHILE INVESTMENT COMPANY 61.22 38.78 100.00 139 299 54
BBVA INFORMATION TECHNOLOGY ESPAÑA SL SPAIN SERVICES 76.00 - 76.00 1 1 1
BBVA INSTITUIÇAO FINANCEIRA DE CREDITO SA PORTUGAL FINANCIAL SERVICES 49.90 50.10 100.00 39 52 3
BBVA INSURANCE AGENCY, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 47 38 9
BBVA INTERNATIONAL PREFERRED SOCIEDAD ANONIMA SPAIN FINANCIAL SERVICES 100.00 - 100.00 - - -
BBVA IRELAND PLC IRELAND FINANCIAL SERVICES 100.00 - 100.00 2 3 -
BBVA LEASING MEXICO SA DE CV MEXICO FINANCIAL SERVICES - 100.00 100.00 51 133 15
BBVA MEDIACION OPERADOR DE BANCA-SEGUROS VINCULADO, S.A. SPAIN FINANCIAL SERVICES - 100.00 100.00 10 18 18
BBVA MORTGAGE CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 2,989 2,907 77
BBVA NEXT TECHNOLOGIES OPERADORA, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - - -
BBVA NEXT TECHNOLOGIES SLU SPAIN INVESTMENT COMPANY 100.00 - 100.00 31 22 4
BBVA NEXT TECHNOLOGIES, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 1 2 -
BBVA OP3N S.L. SPAIN SERVICES - 100.00 100.00 2 2 (1)
BBVA OPEN PLATFORM INC UNITED STATES SERVICES - 100.00 100.00 3 8 (6)
BBVA PARAGUAY SA PARAGUAY BANKING 100.00 - 100.00 23 139 31
BBVA PENSIONES SA ENTIDAD GESTORA DE FONDOS DE PENSIONES SPAIN PENSION FUNDS MANAGEMENT 100.00 - 100.00 13 19 8
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2019. In the carrying amount (net of provision), the Group´s ownership percentage has been applied, without considering the impairment of goodwill. Information on foreign companies at exchange rate as of December 31, 2019.
  • (**) In accordance with Article 3 of Royal Decree 1159/2010, of September 17, in order to determine the state, the voting power relating to subsidiaries was added to the voting power directly held by the parent. Therefore, the number of votes corresponding to the parent company (including indirect control subsidiaries), corresponds to each subsidiary holding a direct ownership interest.

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Additional information on subsidiaries and structured entities composing the BBVA Group (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.19		 Profit (loss)
31.12.19
BBVA PERU HOLDING SAC PERU INVESTMENT COMPANY 100.00 - 100.00 124 947 199
BBVA PLANIFICACION PATRIMONIAL SL SPAIN FINANCIAL SERVICES 80.00 20.00 100.00 - 1 -
BBVA PREVISION AFP SA ADM.DE FONDOS DE PENSIONES BOLIVIA PENSION FUNDS MANAGEMENT 75.00 5.00 80.00 1 5 8
BBVA PROCESSING SERVICES INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1 1 -
BBVA PROCUREMENT SERVICES AMERICA DEL SUR SpA CHILE SERVICES - 100.00 100.00 6 6 -
BBVA RE INHOUSE COMPAÑIA DE REASEGUROS, S.E. SPAIN INSURANCES SERVICES - 100.00 100.00 39 43 -
BBVA REAL ESTATE MEXICO, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 - - -
BBVA SECURITIES INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 206 193 13
BBVA SEGUROS COLOMBIA SA COLOMBIA INSURANCES SERVICES 94.00 6.00 100.00 10 15 9
BBVA SEGUROS DE VIDA COLOMBIA SA COLOMBIA INSURANCES SERVICES 94.00 6.00 100.00 14 104 34
BBVA SEGUROS SA DE SEGUROS Y REASEGUROS SPAIN INSURANCES SERVICES 99.96 - 99.96 713 532 298
BBVA SERVICIOS, S.A. SPAIN COMMERCIAL - 100.00 100.00 - - -
BBVA SOCIEDAD TITULIZADORA S.A. PERU FINANCIAL SERVICES - 100.00 100.00 1 1 -
BBVA TRADE, S.A. SPAIN INVESTMENT COMPANY - 100.00 100.00 10 5 6
BBVA TRANSFER HOLDING INC UNITED STATES INVESTMENT COMPANY - 100.00 100.00 96 81 16
BBVA TRANSFER SERVICES INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 73 63 10
BBVA USA UNITED STATES BANKING - 100.00 100.00 11,063 10,997 107
BBVA USA BANCSHARES, INC. UNITED STATES INVESTMENT COMPANY 100.00 - 100.00 11,424 11,755 135
BBVA VALORES COLOMBIA SA COMISIONISTA DE BOLSA COLOMBIA SECURITIES DEALER - 100.00 100.00 5 5 -
BBVA WEALTH SOLUTIONS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 12 8 4
BILBAO VIZCAYA HOLDING SA SPAIN INVESTMENT COMPANY 89.00 11.00 100.00 41 87 15
CAIXA MANRESA IMMOBILIARIA ON CASA SL SPAIN REAL ESTATE 100.00 - 100.00 2 2 -
CAIXA MANRESA IMMOBILIARIA SOCIAL SL SPAIN REAL ESTATE 100.00 - 100.00 4 3 -
CAIXA TERRASSA SOCIETAT DE PARTICIPACIONS PREFERENTS SAU SPAIN FINANCIAL SERVICES 100.00 - 100.00 1 1 -
CAIXASABADELL PREFERENTS SA SPAIN FINANCIAL SERVICES 100.00 - 100.00 - 1 -
CARTERA E INVERSIONES SA CIA DE SPAIN INVESTMENT COMPANY 100.00 - 100.00 92 27 77
CASA DE BOLSA BBVA BANCOMER SA DE CV MEXICO SECURITIES DEALER - 100.00 100.00 46 26 21
CATALONIA GEBIRA, S.L. (IN LIQUIDATION) SPAIN REAL ESTATE - 100.00 100.00 - - -
CATALONIA PROMODIS 4, S.A. SPAIN REAL ESTATE - 100.00 100.00 1 1 -
CATALUNYACAIXA CAPITAL SA SPAIN INVESTMENT COMPANY 100.00 - 100.00 82 81 1
CATALUNYACAIXA IMMOBILIARIA SA SPAIN REAL ESTATE 100.00 - 100.00 321 317 -
CATALUNYACAIXA SERVEIS SA SPAIN SERVICES 100.00 - 100.00 2 2 -
CDD GESTIONI S.R.L. ITALY REAL ESTATE 100.00 - 100.00 5 10 -
CETACTIUS SL SPAIN REAL ESTATE 100.00 - 100.00 1 1 -
CIDESSA DOS, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 15 15 -
CIDESSA UNO SL SPAIN INVESTMENT COMPANY - 100.00 100.00 5 (38) 65
CIERVANA SL SPAIN INVESTMENT COMPANY 100.00 - 100.00 53 54 -
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2019. In the carrying amount (net of provision), the Group´s ownership percentage has been applied, without considering the impairment of goodwill. Information on foreign companies at exchange rate as of December 31, 2019.
  • (**) In accordance with Article 3 of Royal Decree 1159/2010, of September 17, in order to determine the state, the voting power relating to subsidiaries was added to the voting power directly held by the parent. Therefore, the number of votes corresponding to the parent company (including indirect control subsidiaries), corresponds to each subsidiary holding a direct ownership interest.

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Additional information on subsidiaries and structured entities composing the BBVA Group (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.19		 Profit (loss)
31.12.19
CLUB GOLF HACIENDA EL ALAMO, S.L.( IN LIQUIDATION) SPAIN IN LIQUIDATION - 97.87 97.87 1 1 -
COMERCIALIZADORA CORPORATIVA SAC PERU FINANCIAL SERVICES - 50.00 50.00 - - -
COMERCIALIZADORA DE SERVICIOS FINANCIEROS, S.A. COLOMBIA SERVICES - 100.00 100.00 5 4 1
COMPAÑIA CHILENA DE INVERSIONES SL SPAIN INVESTMENT COMPANY 99.97 0.03 100.00 221 239 11
COMPASS CAPITAL MARKETS, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 7,429 7,344 85
COMPASS GP, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 44 44 -
COMPASS INSURANCE TRUST UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - -
COMPASS LIMITED PARTNER, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 6,512 6,429 84
COMPASS LOAN HOLDINGS TRS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 74 73 1
COMPASS MORTGAGE FINANCING, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - -
COMPASS SOUTHWEST, LP UNITED STATES FINANCIAL SERVICES - 100.00 100.00 5,380 5,323 66
COMPASS TEXAS MORTGAGE FINANCING, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - -
CONSOLIDAR A.F.J.P SA ARGENTINA IN LIQUIDATION 46.11 53.89 100.00 1 1 -
CONTENTS AREA, S.L. SPAIN SERVICES - 100.00 100.00 6 7 -
CONTINENTAL DPR FINANCE COMPANY CAYMAN ISLANDS FINANCIAL SERVICES - 100.00 100.00 - - -
CONTRATACION DE PERSONAL, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 8 7 1
CORPORACION GENERAL FINANCIERA SA SPAIN INVESTMENT COMPANY 100.00 - 100.00 510 1,433 20
COVAULT, INC UNITED STATES SERVICES - 100.00 100.00 1 3 (3)
DALLAS CREATION CENTER, INC UNITED STATES SERVICES - 100.00 100.00 2 4 (1)
DATA ARCHITECTURE AND TECHNOLOGY MEXICO SA DE CV MEXICO SERVICES - 100.00 100.00 1 1 -
DATA ARCHITECTURE AND TECHNOLOGY S.L. SPAIN SERVICES - 51.00 51.00 - 2 -
DATA ARCHITECTURE AND TECHNOLOGY OPERADORA SA DE CV MEXICO SERVICES - 100.00 100.00 - - -
DENIZEN FINANCIAL, INC UNITED STATES SERVICES - 100.00 100.00 1 3 (2)
DENIZEN GLOBAL FINANCIAL SAU SPAIN PAYMENT ENTITIES 100.00 - 100.00 - 5 (3)
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 - - -
DISTRITO CASTELLANA NORTE, S.A. SPAIN REAL ESTATE - 75.54 75.54 113 150 (5)
ECASA, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 30 18 12
EL ENCINAR METROPOLITANO, S.A. SPAIN REAL ESTATE - 99.05 99.05 - - -
EL MILANILLO, S.A. SPAIN REAL ESTATE - 100.00 100.00 7 7 -
EMPRENDIMIENTOS DE VALOR S.A. URUGUAY FINANCIAL SERVICES - 100.00 100.00 2 3 (1)
ENTRE2 SERVICIOS FINANCIEROS E.F.C SA SPAIN FINANCIAL SERVICES 100.00 - 100.00 9 9 -
ESPAIS SABADELL PROMOCIONS INMOBILIARIES, S.A. SPAIN REAL ESTATE - 100.00 100.00 6 8 (1)
EUROPEA DE TITULIZACION SA SGFT . SPAIN FINANCIAL SERVICES 88.24 - 88.24 2 20 3
EXPANSION INTERCOMARCAL SL SPAIN INVESTMENT COMPANY 100.00 - 100.00 16 17 -
F/11395 FIDEICOMISO IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION (1) MEXICO REAL ESTATE - 42.40 42.40 - 1 -
F/253863 EL DESEO RESIDENCIAL MEXICO REAL ESTATE - 65.00 65.00 - 1 -
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2019. In the carrying amount (net of provision), the Group´s ownership percentage has been applied, without considering the impairment of goodwill. Information on foreign companies at exchange rate as of December 31, 2019.
  • (**) In accordance with Article 3 of Royal Decree 1159/2010, of September 17, in order to determine the state, the voting power relating to subsidiaries was added to the voting power directly held by the parent. Therefore, the number of votes corresponding to the parent company (including indirect control subsidiaries), corresponds to each subsidiary holding a direct ownership interest.
  • (1) Full consolidation method is used according to accounting rules (see Glossary)

Download table

Additional information on subsidiaries and structured entities composing the BBVA Group (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.19		 Profit (loss)
31.12.19
F/403035-9 BBVA HORIZONTES RESIDENCIAL MEXICO REAL ESTATE - 65.00 65.00 - - -
FIDEICOMISO 28991-8 TRADING EN LOS MCADOS FINANCIEROS MEXICO FINANCIAL SERVICES - 100.00 100.00 3 2 -
FIDEICOMISO F/29764-8 SOCIO LIQUIDADOR DE OPERACIONES FINANCIERAS DERIVADAS MEXICO FINANCIAL SERVICES - 100.00 100.00 50 45 5
FIDEICOMISO F/403112-6 DE ADMINISTRACION DOS LAGOS MEXICO REAL ESTATE - 100.00 100.00 - - -
FIDEICOMISO HARES BBVA BANCOMER F/ 47997-2 MEXICO REAL ESTATE - 100.00 100.00 5 3 2
FIDEICOMISO INMUEBLES CONJUNTO RESIDENCIAL HORIZONTES DE VILLA CAMPESTRE COLOMBIA REAL ESTATE - 100.00 100.00 1 1 -
FIDEICOMISO LOTE 6.1 ZARAGOZA COLOMBIA REAL ESTATE - 59.99 59.99 - 2 -
FIDEICOMISO N.989 EN THE BANK OF NEW YORK MELLON SA INSTITUCION DE BANCA MULTIPLE FIDUCIARIO (FIDEIC.00989 6 EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 - (3) 3
FIDEICOMISO Nº 847 EN BANCO INVEX SA INSTITUCION DE BANCA MULTIPLE INVEX GRUPO FINANCIERO FIDUCIARIO (FIDEIC. INVEX 4ª EMISION) MEXICO FINANCIAL SERVICES - 100.00 100.00 - 1 1
FIDEICOMISO SCOTIABANK INVERLAT S A F100322908 MEXICO REAL ESTATE - 100.00 100.00 3 2 1
FINANCIERA AYUDAMOS S.A. DE C.V., SOFOMER MEXICO FINANCIAL SERVICES - 100.00 100.00 5 6 (1)
FOMENTO Y DESARROLLO DE CONJUNTOS RESIDENCIALES S.L. (IN LIQUIDATION) SPAIN IN LIQUIDATION - 60.00 60.00 - - -
FORUM COMERCIALIZADORA DEL PERU SA PERU SERVICES - 100.00 100.00 1 1 -
FORUM DISTRIBUIDORA DEL PERU SA PERU FINANCIAL SERVICES - 100.00 100.00 6 5 1
FORUM DISTRIBUIDORA, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 43 35 6
FORUM SERVICIOS FINANCIEROS, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 246 187 49
FUTURO FAMILIAR, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 1 1 -
G NETHERLANDS BV NETHERLANDS INVESTMENT COMPANY - 100.00 100.00 340 291 (3)
GARANTI BANK SA ROMANIA BANKING - 100.00 100.00 262 293 25
GARANTI BBVA AS (1) TURKEY BANKING 49.85 - 49.85 4,967 7,219 968
GARANTI BBVA EMEKLILIK AS TURKEY INSURANCES SERVICES - 84.91 84.91 173 129 71
GARANTI BBVA FACTORING AS TURKEY FINANCIAL SERVICES - 81.84 81.84 20 21 4
GARANTI BBVA FILO AS TURKEY SERVICES - 100.00 100.00 1 5 5
GARANTI BBVA LEASING AS TURKEY FINANCIAL SERVICES - 100.00 100.00 152 137 16
GARANTI BBVA PORTFOY AS TURKEY FINANCIAL SERVICES - 100.00 100.00 20 14 6
GARANTI BBVA YATIRIM AS TURKEY FINANCIAL SERVICES - 100.00 100.00 48 26 23
GARANTI BILISIM TEKNOLOJISI VE TIC TAS TURKEY SERVICES - 100.00 100.00 15 12 4
GARANTI DIVERSIFIED PAYMENT RIGHTS FINANCE COMPANY CAYMAN ISLANDS FINANCIAL SERVICES - 100.00 100.00 - (5) (14)
GARANTI FILO SIGORTA ARACILIK HIZMETLERI A.S. TURKEY FINANCIAL SERVICES - 100.00 100.00 - - -
GARANTI HOLDING BV NETHERLANDS INVESTMENT COMPANY - 100.00 100.00 263 340 -
GARANTI KONUT FINANSMANI DANISMANLIK HIZMETLERI AS (GARANTI MORTGAGE) TURKEY SERVICES - 100.00 100.00 - 1 -
GARANTI KULTUR AS TURKEY SERVICES - 100.00 100.00 - - -
GARANTI ODEME SISTEMLERI AS (GOSAS) TURKEY FINANCIAL SERVICES - 100.00 100.00 - 3 -
GARANTI YATIRIM ORTAKLIGI AS TURKEY INVESTMENT COMPANY - 91.40 91.40 - 6 1
GARANTIBANK BBVA INTERNATIONAL N.V. NETHERLANDS BANKING - 100.00 100.00 587 577 7
GARRAF MEDITERRANIA, S.A. SPAIN REAL ESTATE - 100.00 100.00 2 2 -
GESCAT GESTIO DE SOL SL SPAIN REAL ESTATE 100.00 - 100.00 11 12 (1)
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2019. In the carrying amount (net of provision), the Group´s ownership percentage has been applied, without considering the impairment of goodwill. Information on foreign companies at exchange rate as of December 31, 2019.
  • (**) In accordance with Article 3 of Royal Decree 1159/2010, of September 17, in order to determine the state, the voting power relating to subsidiaries was added to the voting power directly held by the parent. Therefore, the number of votes corresponding to the parent company (including indirect control subsidiaries), corresponds to each subsidiary holding a direct ownership interest.
  • (1) Full consolidation method is used according to accounting rules (see Glossary)

Download table

Additional information on subsidiaries and structured entities composing the BBVA Group (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.19		 Profit (loss)
31.12.19
GESCAT LLEVANT, S.L. SPAIN REAL ESTATE - 100.00 100.00 3 3 -
GESCAT LLOGUERS SL SPAIN REAL ESTATE 100.00 - 100.00 3 4 -
GESCAT POLSKA SP ZOO POLAND REAL ESTATE 100.00 - 100.00 - - -
GESCAT SINEVA, S.L. SPAIN REAL ESTATE - 100.00 100.00 6 6 -
GESCAT VIVENDES EN COMERCIALITZACIO SL SPAIN REAL ESTATE 100.00 - 100.00 91 92 (2)
GESTION DE PREVISION Y PENSIONES SA SPAIN PENSION FUNDS MANAGEMENT 60.00 - 60.00 9 21 5
GESTION Y ADMINISTRACION DE RECIBOS, S.A. - GARSA SPAIN SERVICES - 100.00 100.00 1 2 -
GRAN JORGE JUAN SA SPAIN REAL ESTATE 100.00 - 100.00 423 409 14
GRUPO FINANCIERO BBVA BANCOMER SA DE CV MEXICO FINANCIAL SERVICES 99.98 - 99.98 6,678 8,586 2,645
GUARANTY BUSINESS CREDIT CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 33 33 -
GUARANTY PLUS HOLDING COMPANY UNITED STATES INVESTMENT COMPANY - 100.00 100.00 - - -
HABITATGES FINVER, S.L. SPAIN REAL ESTATE - 100.00 100.00 1 1 -
HABITATGES JUVIPRO, S.L. SPAIN REAL ESTATE - 100.00 100.00 1 1 -
HOLAMUNO AGENTE DE SEGUROS VINCULADO, S.L.U. (IN LIQUIDATION) SPAIN IN LIQUIDATION - 100.00 100.00 - 1 -
HOLVI DEUTSCHLAND SERVICE GMBH ( IN LIQUIDATION) GERMANY IN LIQUIDATION - 100.00 100.00 - - -
HOLVI PAYMENT SERVICE OY FINLAND FINANCIAL SERVICES - 100.00 100.00 55 22 (17)
HUMAN RESOURCES PROVIDER, INC UNITED STATES SERVICES - 100.00 100.00 349 342 6
HUMAN RESOURCES SUPPORT, INC UNITED STATES SERVICES - 100.00 100.00 343 337 6
INMESP DESARROLLADORA, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 35 21 14
INMUEBLES Y RECUPERACIONES CONTINENTAL SA PERU REAL ESTATE - 100.00 100.00 44 42 2
INPAU, S.A. SPAIN REAL ESTATE - 100.00 100.00 25 25 -
INVERAHORRO SL SPAIN INVESTMENT COMPANY 100.00 - 100.00 98 102 -
INVERPRO DESENVOLUPAMENT, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 4 8 2
INVERSIONES ALDAMA, C.A. VENEZUELA IN LIQUIDATION - 100.00 100.00 - - -
INVERSIONES BANPRO INTERNATIONAL INC NV (1) CURAÇAO INVESTMENT COMPANY 48.00 - 48.01 16 46 6
INVERSIONES BAPROBA CA VENEZUELA FINANCIAL SERVICES 100.00 - 100.00 - 1 (1)
INVERSIONES P.H.R.4, C.A. VENEZUELA INACTIVE - 60.46 60.46 - - -
IRIDION SOLUCIONS IMMOBILIARIES SL SPAIN REAL ESTATE 100.00 - 100.00 2 2 -
JALE PROCAM, S.L. (IN LIQUIDATION) SPAIN IN LIQUIDATION - 50.00 50.00 - (53) (2)
L'EIX IMMOBLES, S.L. SPAIN REAL ESTATE - 100.00 100.00 2 2 -
LIQUIDITY ADVISORS LP UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1,154 1,144 17
MADIVA SOLUCIONES, S.L. SPAIN SERVICES - 100.00 100.00 9 2 -
MICRO SPINAL LLC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - -
MISAPRE, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 - - (1)
MOMENTUM SOCIAL INVESTMENT HOLDING, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 7 7 -
MOTORACTIVE IFN SA ROMANIA FINANCIAL SERVICES - 100.00 100.00 36 25 3
MOTORACTIVE MULTISERVICES SRL ROMANIA SERVICES - 100.00 100.00 - 1 1
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2019. In the carrying amount (net of provision), the Group´s ownership percentage has been applied, without considering the impairment of goodwill. Information on foreign companies at exchange rate as of December 31, 2019.
  • (**) In accordance with Article 3 of Royal Decree 1159/2010, of September 17, in order to determine the state, the voting power relating to subsidiaries was added to the voting power directly held by the parent. Therefore, the number of votes corresponding to the parent company (including indirect control subsidiaries), corresponds to each subsidiary holding a direct ownership interest.
  • (1) Full consolidation method is used according to accounting rules (see Glossary)

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Additional information on subsidiaries and structured entities composing the BBVA Group (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.19		 Profit (loss)
31.12.19
MULTIASISTENCIA OPERADORA S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 - - -
MULTIASISTENCIA SERVICIOS S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 - - -
MULTIASISTENCIA, S.A. DE C.V. MEXICO INSURANCES SERVICES - 100.00 100.00 27 18 9
NOIDIRI SL SPAIN REAL ESTATE 100.00 - 100.00 - - -
NOVA TERRASSA 3, S.L. SPAIN REAL ESTATE - 100.00 100.00 6 6 -
OPCION VOLCAN, S.A. MEXICO REAL ESTATE - 100.00 100.00 2 1 1
OPENPAY COLOMBIA SAS COLOMBIA PAYMENT ENTITIES - 100.00 100.00 - - -
OPENPAY S.A.P.I DE C.V. MEXICO PAYMENT ENTITIES - 100.00 100.00 18 4 (1)
OPENPAY SERVICIOS S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - - -
OPERADORA DOS LAGOS S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 1 1 -
OPPLUS OPERACIONES Y SERVICIOS SA SPAIN SERVICES 100.00 - 100.00 1 30 6
OPPLUS SAC (IN LIQUIDATION) PERU IN LIQUIDATION - 100.00 100.00 1 1 -
P.I. HOLDINGS NO. 3, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1 1 -
PARCSUD PLANNER, S.L. SPAIN REAL ESTATE - 100.00 100.00 1 1 -
PECRI INVERSION SA SPAIN OTHER INVESTMENT COMPANIES 100.00 - 100.00 169 166 3
PENSIONES BBVA BANCOMER, S.A. DE C.V., GRUPO FINANCIERO BBVA BANCOMER MEXICO INSURANCES SERVICES - 100.00 100.00 245 211 90
PHOENIX LOAN HOLDINGS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 288 285 5
PI HOLDINGS NO. 1, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 84 84 -
PORTICO PROCAM, S.L. SPAIN REAL ESTATE - 100.00 100.00 26 26 -
PROMOCIONES Y CONSTRUCCIONES CERBAT, S.L.U. SPAIN REAL ESTATE - 100.00 100.00 8 8 -
PROMOTORA DEL VALLES, S.L. SPAIN REAL ESTATE - 100.00 100.00 36 37 (1)
PROMOU CT 3AG DELTA, S.L. SPAIN REAL ESTATE - 100.00 100.00 1 1 -
PROMOU CT EIX MACIA, S.L. SPAIN REAL ESTATE - 100.00 100.00 4 5 (1)
PROMOU CT GEBIRA, S.L. SPAIN REAL ESTATE - 100.00 100.00 2 2 -
PROMOU CT OPENSEGRE, S.L. SPAIN REAL ESTATE - 100.00 100.00 5 7 (2)
PROMOU CT VALLES, S.L. SPAIN REAL ESTATE - 100.00 100.00 2 2 -
PROMOU GLOBAL, S.L. SPAIN REAL ESTATE - 100.00 100.00 18 18 -
PRONORTE UNO PROCAM, S.A. SPAIN REAL ESTATE - 100.00 100.00 - - -
PROPEL VENTURE PARTNERS GLOBAL, S.L SPAIN FINANCIAL SERVICES - 99.50 99.50 52 64 15
PROPEL VENTURE PARTNERS US FUND I, L.P. UNITED STATES VENTURE CAPITAL - 100.00 100.00 107 90 17
PRO-SALUD, C.A. VENEZUELA INACTIVE - 58.86 58.86 - - -
PROVINCIAL DE VALORES CASA DE BOLSA CA VENEZUELA SECURITIES DEALER - 90.00 90.00 1 1 -
PROVINCIAL SDAD.ADMIN.DE ENTIDADES DE INV.COLECTIVA CA VENEZUELA FINANCIAL SERVICES - 100.00 100.00 1 1 -
PROV-INFI-ARRAHONA, S.L. SPAIN REAL ESTATE - 100.00 100.00 6 6 -
PROVIVIENDA ENTIDAD RECAUDADORA Y ADMIN.DE APORTES, S.A. BOLIVIA PENSION FUNDS MANAGEMENT - 100.00 100.00 2 2 -
PSA FINANCE ARGENTINA COMPAÑIA FINANCIERA SA ARGENTINA BANKING - 50.00 50.00 8 21 (4)
PUERTO CIUDAD LAS PALMAS, S.A. SPAIN REAL ESTATE - 96.64 96.64 - (24) (1)
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2019. In the carrying amount (net of provision), the Group´s ownership percentage has been applied, without considering the impairment of goodwill. Information on foreign companies at exchange rate as of December 31, 2019.
  • (**) In accordance with Article 3 of Royal Decree 1159/2010, of September 17, in order to determine the state, the voting power relating to subsidiaries was added to the voting power directly held by the parent. Therefore, the number of votes corresponding to the parent company (including indirect control subsidiaries), corresponds to each subsidiary holding a direct ownership interest.

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Additional information on subsidiaries and structured entities composing the BBVA Group (Continued)
% Legal share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.19		 Profit (loss)
31.12.19
QIPRO SOLUCIONES S.L. SPAIN SERVICES - 100.00 100.00 5 12 2
RALFI IFN SA ROMANIA FINANCIAL SERVICES - 100.00 100.00 38 16 2
RPV COMPANY CAYMAN ISLANDS FINANCIAL SERVICES - 100.00 100.00 - 0 (1)
RWHC, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 772 753 14
SAGE OG I, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - -
SATICEM GESTIO SL SPAIN REAL ESTATE 100.00 - 100.00 4 4 -
SATICEM HOLDING SL SPAIN REAL ESTATE 100.00 - 100.00 5 5 -
SATICEM IMMOBILIARIA SL SPAIN REAL ESTATE 100.00 - 100.00 16 15 1
SATICEM IMMOBLES EN ARRENDAMENT SL SPAIN REAL ESTATE 100.00 - 100.00 2 2 -
SEGUROS BBVA BANCOMER SA DE CV GRUPO FINANCIERO BBVA BANCOMER MEXICO INSURANCES SERVICES - 100.00 100.00 413 336 282
SEGUROS PROVINCIAL CA VENEZUELA INSURANCES SERVICES - 100.00 100.00 8 8 -
SERVICIOS CORPORATIVOS BANCOMER, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 5 6 -
SERVICIOS CORPORATIVOS DE SEGUROS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 2 6 1
SERVICIOS EXTERNOS DE APOYO EMPRESARIAL, S.A DE C.V. MEXICO SERVICES - 100.00 100.00 16 12 4
SIMPLE FINANCE TECHNOLOGY CORP. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 56 78 (23)
SOCIEDAD DE ESTUDIOS Y ANALISIS FINANCIERO SA SPAIN SERVICES 100.00 - 100.00 71 76 (5)
SOCIEDAD GESTORA DEL FONDO PUBLICO DE REGULACION DEL MERCADO HIPOTECARIO SA SPAIN INACTIVE 77.20 - 77.20 - - -
SPORT CLUB 18 SA SPAIN INVESTMENT COMPANY 100.00 - 100.00 8 12 (3)
TEXAS LOAN SERVICES LP UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1,170 1,151 20
TMF HOLDING INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 16 15 1
TRIFOI REAL ESTATE SRL ROMANIA REAL ESTATE - 100.00 100.00 1 1 -
TUCSON LOAN HOLDINGS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 30 30 1
UNIVERSALIDAD TIPS PESOS E-9 COLOMBIA FINANCIAL SERVICES - 100.00 100.00 - 29 1
UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS SA SPAIN REAL ESTATE 100.00 - 100.00 336 543 (18)
UPTURN FINANCIAL INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 2 4 (3)
URBANIZADORA SANT LLORENC SA SPAIN INACTIVE 60.60 - 60.60 - - -
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS S.L. SPAIN SERVICES - 51.00 51.00 - - 1
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA SA ARGENTINA BANKING - 51.00 51.00 15 29 1
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2019. In the carrying amount (net of provision), the Group´s ownership percentage has been applied, without considering the impairment of goodwill. Information on foreign companies at exchange rate as of December 31, 2019.
  • (**) In accordance with Article 3 of Royal Decree 1159/2010, of September 17, in order to determine the state, the voting power relating to subsidiaries was added to the voting power directly held by the parent. Therefore, the number of votes corresponding to the parent company (including indirect control subsidiaries), corresponds to each subsidiary holding a direct ownership interest.

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This Appendix is an integral part of Note 3 of the condensed consolidated financial statements for the year ended December 31, 2019.

APPENDIX II. Additional information on investments joint ventures and associates in the BBVA Group

Acquisitions or increases of interest ownership in consolidated subsidiaries
% Legal share of participation Millions of Euros (*)
Affiliate entity data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Assets
31.12.19		 Liabilities
31.12.19		 Equity excluding
profit (loss)
31.12.19		 Profit (loss)
31.12.19
ASSOCIATES
ADQUIRA ESPAÑA, S.A. SPAIN COMMERCIAL - 40.00 40.00 3 19 11 7 1
ATOM BANK PLC UNITED KINGDOM BANKING 39.02 - 39.02 136 3,285 3,024 350 (90)
AUREA, S.A. (CUBA) CUBA REAL ESTATE - 49.00 49.00 5 10 0 9 1
COMPAÑIA ESPAÑOLA DE FINANCIACION DEL DESARROLLO SA SPAIN PUBLIC ENTITIES AND INSTITUTIONS 16.67 - 16.67 23 146 6 131 9
COMPAÑIA PERUANA DE MEDIOS DE PAGO SAC (VISANET PERU) PERU ELECTRONIC MONEY ENTITIES - 21.03 21.03 3 103 89 5 9
DIVARIAN PROPIEDAD, S.A.U. SPAIN REAL ESTATE 20.00 - 20.00 630 3,252 101 3,199 (48)
FIDEICOMISO F/00185 FIMPE - FIDEICOMISO F/00185 PARA EXTENDER A LA SOCIEDAD LOS BENEFICIOS DEL ACCESO A LA INFRAESTRUCTURA DE LOS MEDIOS DE PAGO ELECTRONICOS MEXICO FINANCIAL SERVICES - 28.50 28.50 2 8 - 13 (4)
METROVACESA SA SPAIN REAL ESTATE 9.44 11.41 20.85 443 2,622 280 2,343 (1)
REDSYS SERVICIOS DE PROCESAMIENTO SL SPAIN FINANCIAL SERVICES 20.00 - 20.00 14 128 56 60 11
ROMBO COMPAÑIA FINANCIERA SA ARGENTINA BANKING - 40.00 40.00 10 118 93 28 (4)
SERVICIOS ELECTRONICOS GLOBALES SA DE CV MEXICO SERVICES - 46.14 46.14 11 23 - 20 3
SERVIRED SOCIEDAD ESPAÑOLA DE MEDIOS DE PAGO SA ESPAÑA FINANCIAL SERVICES 28.72 - 28.72 8 31 3 27 1
SOLARISBANK AG GERMANY BANKING - 22.22 22.22 36 416 369 65 (18)
TELEFONICA FACTORING ESPAÑA SA SPAIN FINANCIAL SERVICES 30.00 - 30.00 4 60 46 7 7
TF PERU SAC PERU FINANCIAL SERVICES - 24.30 24.30 1 6 1 3 2
JOINT VENTURES
ADQUIRA MEXICO SA DE CV MEXICO COMMERCIAL - 50.00 50.00 2 6 2 4 -
ALTURA MARKETS SOCIEDAD DE VALORES SA SPAIN SECURITY DEALER 50.00 - 50.00 73 2,448 2,301 138 9
COMPAÑIA MEXICANA DE PROCESAMIENTO SA DE CV MEXICO SERVICES - 50.00 50.00 9 17 - 16 1
CORPORACION IBV PARTICIPACIONES EMPRESARIALES, S.A. (1) SPAIN INVESTMENT COMPANY - 50.00 50.00 29 63 5 58 -
DESARROLLOS METROPOLITANOS DEL SUR, S.L. SPAIN REAL ESTATE - 50.00 50.00 14 81 53 27 2
FIDEICOMISO DE ADMINISTRACION REDETRANS COLOMBIA FINANCIAL SERVICES - 25.07 25.07 1 4 - 4 -
FIDEICOMISO F/402770-2 ALAMAR MEXICO REAL ESTATE - 42.40 42.40 8 18 - 18 -
FIDEICOMISO 1729 INVEX ENAJENACION DE CARTERA (1) MEXICO REAL ESTATE - 32.25 32.25 12 182 - 182 -
PROMOCIONS TERRES CAVADES, S.A. SPAIN REAL ESTATE - 39.11 39.11 4 15 - 15 -
RCI COLOMBIA SA COMPAÑIA DE FINANCIAMIENTO COLOMBIA FINANCIAL SERVICES - 49.00 49.00 37 514 439 67 8
VITAMEDICA ADMINISTRADORA, S.A. DE C.V MEXICO SERVICES - 51.00 51.00 5 19 10 9 -
  • (*) In foreign companies the exchange rate of December 31, 2019 is applied.
  • (1) Classified as Non-current asset in seld.

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This Appendix is an integral part of Notes 3 ad 16 of the condensed consolidated financial statements for the year ended December 31, 2019.

APPENDIX III. Changes and notification of participations in the BBVA Group in 2019

Acquisitions or increases of interest ownership in consolidated subsidiaries
Millions of Euros % of Voting Rights
Company Type of Transaction Activity Price paid in the
transactions +
expenses directly
attributable to the
transactions		 Fair value of equity
instruments
issued for the
transactions		 % Participation (net)
acquired
in the year		 Total voting rights
controlled after the
transactions		 Effective date for the
transaction (or
notification date)		 Category
DATA ARCHITECTURE AND TECHNOLOGY MEXICO SA DE CV FOUNDING SERVICES 1 - 100.00% 100.00% 22-Jul-19 SUBSIDIARY
DATA ARCHITECTURE AND TECHNOLOGY OPERADORA SA DE CV FOUNDING SERVICES - - 100.00% 100.00% 22-Jul-19 SUBSIDIARY
ANTHEMIS BBVA VENTURE PARTNERSHIP LLP CAPITAL INCREASE INVESTMENT COMPANY 4 - 25.00% 100.00% 25-Nov-19 SUBSIDIARY
BBVA PROCUREMENT AMERICA SA DE CV (1) FOUNDING SERVICES - - 100.00% 100.00% 4-Mar-19 SUBSIDIARY
FIDEICOMISO INMUEBLES CONJUNTO RESIDENCIAL HORIZONTES DE VILLA CAMPESTRE FOUNDING REAL ESTATE 1 - 100.00% 100.00% 1-Sep-19 SUBSIDIARY
OPENPAY COLOMBIA SAS FOUNDING PAYMENT INSTITUTIONS - - 100.00% 100.00% 9-Oct-19 SUBSIDIARY
  • (1) Company incorporated and liquidated in the same year.

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Disposals or Reduction of Interest Ownership in Consolidated Subsidiaries
Millions of Euros % of Voting Rights
Company Type of transaction Activity Profit (loss)
in the transaction		 Changes in the equity
due to the transaction		 % Participation
sold
in the year		 Total voting rights
controlled after the
disposal		 Effective date for the
transaction (or notification date)		 Category
BBVA FRANCES VALORES, S.A. MERGER SECURITIES DEALER - - 100.00% - 31-Oct-19 SUBSIDIARY
ENTIDAD DE PROMOCION DE NEGOCIOS SA LIQUIDATION OTHER HOLDING - - 99.88% - 14-Jun-19 SUBSIDIARY
BBVA NOMINEES LIMITED ( IN LIQUIDATION) LIQUIDATION SERVICES - - 100.00% - 2-Apr-19 SUBSIDIARY
BBVA LUXINVEST SA LIQUIDATION INVESTMENT COMPANY - - 100.00% - 2-Sep-19 SUBSIDIARY
BBVA CONSULTORIA, S.A. LIQUIDATION SERVICES - - 100.00% - 18-Feb-19 SUBSIDIARY
RENTRUCKS ALQUILER Y SERVICIOS DE TRANSPORTE SA LIQUIDATION FINANCIAL SERVICES - - 100.00% - 30-Apr-19 SUBSIDIARY
FIDEICOMISO Nº 711 EN BANCO INVEX SA INSTITUCION DE BANCA MULTIPLE INVEX GRUPO FINANCIERO FIDUCIARIO (FIDEIC. INVEX 1ª EMISION) MERGER FINANCIAL SERVICES - - 100.00% - 30-May-19 SUBSIDIARY
FIDEICOMISO Nº 752 EN BANCO INVEX SA INSTITUCION DE BANCA MULTIPLE INVEX GRUPO FINANCIERO FIDUCIARIO (FIDEIC. INVEX 2ª EMISION) MERGER FINANCIAL SERVICES - - 100.00% - 30-Nov-19 SUBSIDIARY
RESIDENCIAL CUMBRES DE SANTA FE, S.A. DE C.V. MERGER REAL ESTATE - - 100.00% - 29-Nov-19 SUBSIDIARY
FINANCEIRA DO COMERCIO EXTERIOR SAR. LIQUIDATION COMMERCIAL - - 100.00% - 21-Jan-19 SUBSIDIARY
ANIDA GERMANIA IMMOBILIEN ONE, GMBH LIQUIDATION REAL ESTATE - - 100.00% - 9-May-19 SUBSIDIARY
SERVICIOS TECNOLOGICOS SINGULARES, S.A. LIQUIDATION SERVICES - - 100.00% - 25-Feb-19 SUBSIDIARY
COPROMED SA DE CV LIQUIDATION SERVICES - - 100.00% - 18-Oct-19 SUBSIDIARY
INVERSIONES DE INNOVACION EN SERVICIOS FINANCIEROS, S.L. MERGER INVESTMENT COMPANY - - 100.00% - 16-Sep-19 SUBSIDIARY
PERSONAL DATA BANK SLU LIQUIDATION SERVICES - - 100.00% - 31-Dec-19 SUBSIDIARY
BBVA PROCUREMENT AMERICA SA DE CV (1) LIQUIDATION SERVICES - - 100.00% - 11-Dec-19 SUBSIDIARY
GARANTI HIZMET YONETIMI AS LIQUIDATION FINANCIAL SERVICES - - 100.00% - 23-Dec-19 SUBSIDIARY
  • (1) Company incorporated and liquidated in the same year.

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Changes and notification of participations in the BBVA Group in 2019 (continued)

Business combinations and other acquisitions or increases of interest ownership in associates and joint-ventures accounted for under the equity method
Millions of Euros % of Voting Rights
Company Type of transaction Activity Price paid in the
transactions +
expenses directly
attributable to the
transactions		 Fair value of equity
instruments
issued for the
transactions		 % Participation (net)
acquired
in the year		 Total voting rights
controlled after the
transactions		 Effective date for the
transaction (or notification date)		 Category
PRIVACYCLOUD S.L. ACQUISITION SERVICES 1 - 18.10% 20.00% 11-Oct-19 ASSOCIATED

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Disposal or reduction of interest ownership in associates and joint-ventures companies accounted for under the equity method
Millions of Euros % of Voting Rights
Company Type of Transaction Activity Profit (loss)
in the transaction		 % Participation
sold
in the year		 Total voting rights
controlled after the
disposal		 Effective date for the
transaction (or
notification date)		 Category
REAL ESTATE DEAL II SA LIQUIDATION REAL ESTATE - 20.06% - 11-Nov-19 JOINT VENTURE
CANCUN SUN & GOLF COUNTRY CLUB, S.A.P.I. DE C.V. DISPOSAL REAL ESTATE 10 33.33% - 31-Dec-19 ASSOCIATED
BANK OF HANGZHOU CONSUMER FINANCE CO LTD DILUTION EFFECT BANKING 7 18.10% 11.90% 29-Jul-19 ASSOCIATED
AXIACOM-CRI, S.L. (IN LIQUIDATION) LIQUIDATION REAL ESTATE - 50.00% - 30-Oct-19 JOINT VENTURE
HABITATGES LLULL, S.L. LIQUIDATION REAL ESTATE - 50.00% - 20-Nov-19 JOINT VENTURE
PROMOCIONS CAN CATA, S.L. (IN LIQUIDATION) LIQUIDATION REAL ESTATE - 64.29% - 17-Jun-19 JOINT VENTURE
RESIDENCIAL SARRIA-BONANOVA, S.L. EN LIQUIDACIÓN LIQUIDATION REAL ESTATE - 27.22% - 31-Dec-19 ASSOCIATED
INNOVA 31, S.C.R., S.A.( EN LIQUIDACION) LIQUIDATION FINANCIAL SERVICES - 27.04% - 01-Mar-19 ASSOCIATED
PROVIURE CZF, S.L. LIQUIDATION REAL ESTATE - 50.00% - 31-Dec-19 JOINT VENTURE
PROVIURE CZF PARC D'HABITATGES, S.L. LIQUIDATION REAL ESTATE - 100.00% - 31-Dec-19 JOINT VENTURE
  • This Appendix is an integral part of Notes 3 and 16 of the condensed consolidated financial statements for the year ended December 31, 2019.

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Disposal or reduction of interest ownership in associates and joint-ventures companies accounted for under the equity method

APPENDIX IV. Fully consolidated subsidiaries with more than 10% owned by non-Group shareholders as of December 31, 2019

% of Voting Rights Controlled by the Bank
Company Activity Direct Indirect Total
BBVA BANCO CONTINENTAL SA BANKING - 46.12 46.12
BANCO PROVINCIAL SA - BANCO UNIVERSAL BANKING 1.46 53.75 55.21
INVERSIONES BANPRO INTERNATIONAL INC NV INVESTMENT COMPANY 48.00 - 48.00
PRO-SALUD, C.A. NO ACTIVITY - 58.86 58.86
INVERSIONES P.H.R.4, C.A. NO ACTIVITY - 60.46 60.46
BBVA PREVISION AFP SA ADM.DE FONDOS DE PENSIONES PENSION FUND MANAGEMENT 75.00 5.00 80.00
COMERCIALIZADORA CORPORATIVA SAC FINANCIAL SERVICES - 50.00 50.00
DISTRITO CASTELLANA NORTE, S.A. REAL ESTATE - 75.54 75.54
GESTION DE PREVISION Y PENSIONES SA PENSION FUND MANAGEMENT 60.00 - 60.00
F/403035-9 BBVA HORIZONTES RESIDENCIAL REAL ESTATE - 65.00 65.00
F/253863 EL DESEO RESIDENCIAL REAL ESTATE - 65.00 65.00
DATA ARCHITECTURE AND TECHNOLOGY S.L. SERVICES - 51.00 51.00
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA SA BANKING - 51.00 51.00
FIDEICOMISO LOTE 6.1 ZARAGOZA REAL ESTATE - 59.99 59.99
F/11395 FIDEICOMISO IRREVOCABLE DE ADMINISTRACION CON DERECHO DE REVERSION REAL ESTATE - 42.40 42.40
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS S.L. SERVICES - 51.00 51.00
GARANTI BBVA EMEKLILIK AS INSURANCES - 84.91 84.91
FOMENTO Y DESARROLLO DE CONJUNTOS RESIDENCIALES S.L. EN LIQUIDACION IN LIQUIDATION - 60.00 60.00
BBVA INFORMATION TECHNOLOGY ESPAÑA SL SERVICES 76.00 - 76.00
JALE PROCAM, S.L. (IN LIQUIDATION) IN LIQUIDATION - 50.00 50.00
PSA FINANCE ARGENTINA COMPAÑIA FINANCIERA SA BANKING - 50.00 50.00

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This Appendix is an integral part of Note 3 of the condensed consolidated financial statements for the year ended December 31, 2019.

APPENDIX V. BBVA Group’s structured entities. Securitization funds

Millions of Euros
Securitization Fund (consolidated) Company Origination Date Total securitized
exposures at the
origination date		 Total securitized
exposures as of December 31, 2019 (*)
AYT HIPOTECARIO MIXTO IV, FTA BBVA, S.A. 06/2005 100 15
AYT HIPOTECARIO MIXTO, FTA BBVA, S.A. 03/2004 100 10
BBVA CONSUMER AUTO 2018-1 BBVA, S.A. 06/2018 800 736
BBVA CONSUMO 7 FTA BBVA, S.A. 07/2015 1,450 350
BBVA CONSUMO 8 FT BBVA, S.A. 07/2016 700 337
BBVA CONSUMO 9 FT BBVA, S.A. 03/2017 1,375 850
BBVA EMPRESAS 4 FTA BBVA, S.A. 07/2010 1,700 25
BBVA LEASING 1 FTA BBVA, S.A. 06/2007 2,500 25
BBVA RMBS 1 FTA BBVA, S.A. 02/2007 2,500 897
BBVA RMBS 10 FTA BBVA, S.A. 06/2011 1,600 1,076
BBVA RMBS 11 FTA BBVA, S.A. 06/2012 1,400 940
BBVA RMBS 12 FTA BBVA, S.A. 12/2013 4,350 2,959
BBVA RMBS 13 FTA BBVA, S.A. 07/2014 4,100 2,908
BBVA RMBS 14 FTA BBVA, S.A. 11/2014 700 447
BBVA RMBS 15 FTA BBVA, S.A. 05/2015 4,000 2,945
BBVA RMBS 16 FT BBVA, S.A. 05/2016 1,600 1,245
BBVA RMBS 17 FT BBVA, S.A. 11/2016 1,800 1,460
BBVA RMBS 18 FT BBVA, S.A. 11/2017 1,800 1,582
BBVA RMBS 2 FTA BBVA, S.A. 03/2007 5,000 1,664
BBVA RMBS 3 FTA BBVA, S.A. 07/2007 3,000 1,312
BBVA RMBS 5 FTA BBVA, S.A. 05/2008 5,000 2,187
BBVA RMBS 9 FTA BBVA, S.A. 04/2010 1,295 788
BBVA VELA SME 2018 BBVA, S.A. 03/2018 1,950 873
BBVA-6 FTPYME FTA BBVA, S.A. 06/2007 1,500 8
FTA TDA-22 MIXTO BBVA, S.A. 12/2004 112 22
FTA TDA-27 BBVA, S.A. 12/2006 275 79
FTA TDA-28 BBVA, S.A. 07/2007 250 76
GAT ICO FTVPO 1, F.T.H BBVA, S.A. 06/2009 358 64
HIPOCAT 10 FTA BBVA, S.A. 07/2006 1,500 253
HIPOCAT 11 FTA BBVA, S.A. 03/2007 1,600 263
HIPOCAT 7 FTA BBVA, S.A. 06/2004 1,400 192
HIPOCAT 8 FTA BBVA, S.A. 05/2005 1,500 227
HIPOCAT 9 FTA BBVA, S.A. 11/2005 1,000 176
TDA 19 FTA BBVA, S.A. 03/2004 200 21
TDA 20-MIXTO, FTA BBVA, S.A. 06/2004 100 12
TDA 23 FTA BBVA, S.A. 03/2005 300 45
TDA TARRAGONA 1 FTA BBVA, S.A. 12/2007 397 103
VELA CORPORATE 2018-1 BBVA, S.A. 12/2018 1,000 469
BBVA Consumo 10FT BBVA, S.A. 07/2019 2,000 1,946
BBVA RMBS 19 FT BBVA, S.A. 11/2019 2,000 1,983
Millions of Euros
Securitization Fund (not consolidated) Company Origination
date		 Total securitized
exposures at the
origination date		 Total securitized
exposures as of December 31, 2019 (*)
FTA TDA-18 MIXTO BBVA, S.A. nov.-03 91 10
HIPOCAT 6 FTA BBVA, S.A jul.-03 850 93
  • (*) Solvency scope.

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APPENDIX VI. Details of the outstanding subordinated debt and preferred securities issued by the Bank or entities in the Group consolidated as of December 31, 2019, 2018 and 2017

Outstanding as of December 31, 2019, 2018, and 2017 of subordinated issues
Millions of Euros
Issuer entity and issued date Currency December
2019		 December
2018		 December
2017		 Prevailing Interest
Rate
as of December 31,
2019		 Maturity
Date
Issues in Euros
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
February-07 EUR - - 255 0.47% 16-Feb-22
March-08 EUR 125 125 125 6.03% 03-Mar-33
July-08 EUR 100 100 100 6.20% 4-Jul-23
February-14 EUR - 1,500 1,500 7.00% Perpetual
April-14 EUR - 1,494 1,494 3.50% 11-Apr-24
February-15 EUR 1,500 1,500 1,500 6.75% Perpetual
April-16 EUR 1,000 1,000 1,000 8.88% Perpetual
February-17 EUR 1,000 1,000 997 3.50% 10-Feb-27
February-17 EUR 165 165 165 4.00% 24-Feb-32
May-17 EUR 150 150 150 2.54% 24-May-27
May-17 EUR 500 500 500 5.88% Perpetual
September-18 EUR 1,000 990 - 5.88% Perpetual
February-19 EUR 750 - - 2.58% 22-Feb-29
March-19 EUR 1,000 - - 6.00% Perpetual
Different issues EUR 379 384 386
Subtotal EUR 7,668 8,906 8,171
BBVA SUBORDINATED CAPITAL, S.A.U. (*)
October-05 EUR - 99 0.47% 13-Oct-20
July-08 EUR - 20 6.11% 22-Jul-18
Subtotal EUR - - 119
Total issued in Euros EUR 7,668 8,906 8,290
  • (*) The issuances of BBVA Subordinated Capital, S.A.U. are jointly, severally and unconditionally guaranteed by the Bank.

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Outstanding as of December 31, 2019, 2018, and 2017 of subordinated issues (continued)
Millions of Euros
Issuer entity and issued date Currency December 2019 December 2018 December 2017 Prevailing
Interest Rate
as of December
31, 2019		 Maturity
Date
Issues in foreign currency
BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
May-13 USD - - 1,251 9.00%
March-17 USD 107 105 100 5.70% 31-Mar-32
November-17 USD 890 873 834 6.13% Perpetual
May-18 USD 265 260 - 5.25% 29-May-33
September-19 USD 890 - - 6.50% Perpetual
Subtotal USD 2,152 1,238 2,185
May-17 CHF 18 18 17 1.60% 24-May-27
Subtotal CHF 18 18 17
BBVA GLOBAL FINANCE, LTD. (*)
December-95 USD 177 169 162 7.00% 01-Dec-25
Subtotal USD 177 169 162
BANCO BILBAO VIZCAYA ARGENTARIA, CHILE (**)
Different issues CLP - - 574
Subtotal CLP - - 574
BBVA BANCOMER S.A INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA BANCOMER
April-10 USD 667 874 831 7.25% 22-Apr-20
March-11 USD 667 1,092 1,039 6.50% 10-Mar-21
July-12 USD 1,333 1,311 1,247 6.75% 30-Sep-22
November-14 USD 178 175 166 5.35% 12-Nov-29
January-18 USD 889 874 - 5.13% 18-Jan-33
September-19 USD 667 - - 5.875% 13-Sep-34
Subtotal USD 4,401 4,325 3,283
BANCO BILBAO VIZCAYA ARGENTARIA URUGUAY S.A
Different issues USD 2 - -
Subtotal USD 2 - -
BBVA PARAGUAY (***)
November-14 USD 18 19 17 6.75% 05-Nov-21
November-15 USD 22 23 21 6.70% 18-Nov-22
Subtotal USD 40 42 38
  • (*) The issuances of BBVA Global Finance, Ltd, are guaranteed (secondary liability) by the Bank
  • (**) The €574 million subordinated issuances of BBVA Chile as of December 2017 were recorded in the heading "Liabilities included in disposal groups classified as held for sale".
  • (***) The amount of 2019 is recorded under the heading “Liabilities included in disposal groups classified as held for sale”.

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Outstanding as of December 31, 2019, 2018, and 2017 of subordinated issues
Millions of Euros
Issuer Entity and Issued Date
(continued) 		Currency December
2019		 December
2018		 December
2017		 Prevailing Interest
Rate
as of December 31,
2019		 Maturity
Date
COMPASS BANK
March-05 USD 203 199 190 5.50% 01-Apr-20
March-06 USD 63 62 59 5.90% 01-Apr-26
April-15 USD 623 611 584 3.88% 10-Apr-25
Subtotal 889 872 833
BBVA COLOMBIA, S.A.
September-11 COP - - 28 8.31% 19-Sep-18
September-11 COP 29 28 30 8.48% 19-Sep-21
September-11 COP 42 42 44 8.72% 19-Sep-26
February-13 COP 54 53 56 7.65% 19-Feb-23
February-13 COP 45 44 46 7.93% 19-Feb-28
November-14 COP 24 24 25 8.53% 26-Nov-29
November-14 COP 34 43 45 8.41% 26-Nov-34
Subtotal COP 229 233 273
April-15 USD 333 332 313 4.88% 21-Apr-25
Subtotal USD 333 332 313
BANCO CONTINENTAL, S.A.
June-07 PEN 22 20 20 3.47% 18-Jun-32
November-07 PEN 19 18 18 3.56% 19-Nov-32
July-08 PEN 17 16 16 3.06% 08-Jul-23
September-08 PEN 18 17 17 3.09% 09-Sep-23
December-08 PEN 11 10 10 4.19% 15-Dec-33
Subtotal PEN 87 82 80
May-07 USD 18 17 17 6.00% 14-May-27
February-08 USD 18 18 17 6.47% 28-Feb-28
October-13 USD 41 40 38 6.53% 02-Oct-28
September-14 USD 269 252 244 5.25% 22-Sep-29
Subtotal USD 346 328 315
TURKIYE GARANTI BANKASI A.S.
May-17 USD 664 652 623 6.13% 24-May-27
Subtotal USD 664 652 623
October-19 TRY 38 - - 13.64% 07-Oct-29
Subtotal TRY 38 - -
Total issues in foreign currencies(Millions of Euros) EUR 9,376 8,291 8,695

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Outstanding as of December 31, 2019, 2018, and 2017 of subordinated issues (Millions of euros)
December 2019 December 2018 December 2017
Issuer Entity and Issued Date Currency Amount Issued Currency Amount Issued Currency Amount Issued
BBVA COLOMBIA SA
December-93 COP 20 COP 19 COP -
BBVA International Preferred, S.A.U.
July-07 GBP 37 GBP 35 GBP 35
Phoenix Loan Holdings Inc.
November-00 USD 19 USD 18 USD 18
Caixa Terrasa Societat de Participacion
August-05 EUR 28 EUR 52 EUR 51
Caixasabadell Preferents, S.A.
July 2006 EUR 56 EUR 56 EUR 56
Others - - - - - -

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APPENDIX VII Consolidated balance sheets held in foreign currency as of December 31, 2019, 2018 and 2017

December 2019 (Millions of euros)

USD Mexican
pesos		 Turkish lira Other foreign
currencies		 Total foreign
currencies
Assets
Cash, cash balances at central banks and other demand deposits 16,930 4,414 499 5,330 27,173
Financial assets held for trading 5,549 18,543 242 5,257 29,591
Non- trading financial assets mandatorily at fair value through profit or loss 900 3,509 4 116 4,529
Financial assets at fair value through comprehensive income 14,269 6,178 2,748 5,541 28,735
Financial assets at amortized cost 107,865 56,963 29,125 35,906 229,859
Joint ventures and associates 5 20 - 252 277
Tangible assets 921 2,214 1,050 1,026 5,211
Other assets 1,946 2,147 1,174 5,508 10,775
Total 148,384 93,989 34,842 58,934 336,149
Liabilities
Financial liabilities held for trading 4,063 16,064 170 2,465 22,762
Financial liabilities at amortized cost 136,661 54,733 20,681 36,758 248,834
Other liabilities 5,555 6,757 881 8,172 21,365
Total 146,280 77,555 21,732 47,394 292,961

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December 2018 (Millions of euros)

USD Mexican
pesos		 Turkish lira Other foreign
currencies		 Total foreign
currencies
Assets
Cash, cash balances at central banks and other demand deposits 15,184 6,869 476 5,547 28,076
Financial assets held for trading 3,133 15,500 366 3,614 22,614
Non- trading financial assets mandatorily at fair value through profit or loss 650 2,303 3 58 3,014
Financial assets at fair value through comprehensive income 16,566 4,704 3,031 2,931 27,232
Financial assets at amortized cost 101,366 47,550 28,094 34,075 211,085
Joint-ventures and associates 5 54 - 267 326
Tangible assets 670 1,964 1,007 850 4,490
Other assets 3,444 2,911 1,361 2,879 10,595
Total 141,019 81,856 34,336 50,221 307,433
Liabilities
Financial liabilities held for trading 2,372 13,626 360 1,507 17,864
Financial liabilities at amortized cost 136,307 48,169 8 37,342 242,696
Other liabilities 3,874 6,081 750 7,200 17,904
Total 142,552 67,876 21,987 46,049 278,464

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December 2017 (Millions of euros)

USD Mexican
pesos		 Turkish lira Other foreign
currencies		 Total foreign
currencies
Assets
Cash, cash balances at central banks and other demand deposits 17,111 4,699 827 4,264 26,902
Financial assets held for trading 2,085 14,961 484 4,583 22,113
Available-for-sale financial assets 14,218 8,051 4,904 3,010 30,183
Loans and receivables 93,069 39,717 32,808 34,488 200,081
Investments in entities accounted for using the equity method 5 124 - 147 276
Tangible assets 659 1,953 1,289 673 4,573
Other assets 7,309 5,041 4,429 18,662 35,438
Total 134,456 74,546 44,738 65,826 319,566
Liabilities
Financial liabilities held for trading 935 5,714 506 533 7,688
Financial liabilities at amortized cost 135,546 51,492 27,079 39,062 253,178
Other liabilities 3,907 8,720 1,039 16,593 30,259
Total 140,387 65,926 28,623 56,188 291,124

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This Appendix is an integral part of Notes 2.2.16 of the condensed consolidated financial statements for the year ended December 31, 2019.

APPENDIX VIII. Consolidated income statements for the first and second half of 2019 and 2018

Consolidated income statements for the first and second half of 2019 and 2018

CONSOLIDATED INCOME STATEMENTS FOR THE FIRST AND SECOND HALF OF 2019 AND 2018

Six months ended
June 30, 2019		 Six months ended
December 31, 2019		 Six months ended
June 30, 2018		 Six months ended
December 31, 2018
Interest and other income 15,678 15,383 14,418 15,413
Interest expense (6,691) (6,168) (5,828) (6,411)
NET INTEREST INCOME 8,987 9,215 8,590 9,001
Dividend income 103 60 83 74
Share of profit or loss of entities accounted for using the equity method (19) (23) 13 (20)
Fee and commission income 3,661 3,861 3,553 3,580
Fee and commission expense (1,191) (1,298) (1,073) (1,181)
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net 67 172 130 85
Gains (losses) on financial assets and liabilities held for trading, net 173 278 329 378
Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net 98 45 3 92
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net (3) (91) 107 35
Gains (losses) from hedge accounting, net 73 (14) 51 20
Exchange differences, net 134 452 74 (84)
Other operating income 337 334 554 396
Other operating expense (995) (1,011) (1,062) (1,039)
Income from insurance and reinsurance contracts 1,547 1,342 1,601 1,348
Expense from insurance and reinsurance contracts (983) (769) (1,091) (803)
GROSS INCOME 11,989 12,553 11,863 11,884
Administration costs (5,084) (5,219) (5,297) (5,197)
Personnel expense (3,131) (3,210) (3,104) (3,017)
Other administrative expense (1,953) (2,010) (2,193) (2,181)
Depreciation and amortization (790) (809) (599) (609)
Provisions or reversal of provisions (261) (356) (184) (189)
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification (1,777) (2,374) (1,606) (2,375)
Financial assets measured at amortized cost (1,772) (2,297) (1,618) (2,362)
Financial assets at fair value through other comprehensive income (5) (77) 12 (13)
NET OPERATING INCOME 4,077 3,794 4,177 3,513
Impairment or reversal of impairment of investments in joint ventures and associates - (46) - -
Impairment or reversal of impairment on non-financial assets (44) (1,403) - (138)
Gains (losses) on derecognition of non - financial assets and subsidiaries, net 8 (11) 80 (2)
Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations 11 10 29 786
PROFIT OR LOSS BEFORE TAX FROM CONTINUING OPERATIONS 4,052 2,346 4,286 4,161
Tax expense or income related to profit or loss from continuing operations (1,136) (917) (1,184) (1,035)
PROFIT OR LOSS AFTER TAX FROM CONTINUING OPERATIONS 2,916 1,429 3,102 3,125
Profit (loss) after tax from discontinued operations, net - - - -
PROFIT FOR THE YEAR 2,916 1,429 3,102 3,125
Attributable to minority interest (non-controlling interest) 475 359 528 299
Attributable to owners of the parent 2,442 1,070 2,574 2,826
Euros First
semester 2019		 Second
semester 2019		 First
semester 2018		 Second
semester 2018
EARNINGS PER SHARE
Basic earnings per share from continued operations 0.34 0.13 0.35 0.49
Diluted earnings per share from continued operations 0.34 0.13 0.35 0.40
Basic earnings per share from discontinued operations - -
Diluted earnings per share from discontinued operations - -

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

ASSETS (Millions of euros)

2019 2018 (*)
CASH, CASH BALANCES AT CENTRAL BANKS AND OTHER DEMAND DEPOSITS 18,419 30,922
FINANCIAL ASSETS HELD FOR TRADING 84,842 75,210
Derivatives 32,988 30,217
Equity instruments 8,205 4,850
Debt securities 10,213 11,453
Loans and advances to central banks 484 2,073
Loans and advances to credit institutions 20,688 14,588
Loans and advances to customers 12,263 12,029
NON-TRADING FINANCIAL ASSETS MANDATORILY AT FAIR VALUE THROUGH PROFIT OR LOSS 855 1,726
Equity instruments 125 200
Debt securities 128 150
Loans and advances to central banks - -
Loans and advances to credit institutions - -
Loans and advances to customers 602 1,376
FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS - -
FINANCIAL ASSETS AT FAIR VALUE THROUGH COMPREHENSIVE INCOME 24,905 19,273
Equity instruments 1,749 2,020
Debt securities 23,156 17,253
FINANCIAL ASSETS AT AMORTIZED COST 225,369 219,127
Debt securities 21,496 19,842
Loans and advances to central banks 5 5
Loans and advances to credit institutions 8,049 5,271
Loans and advances to customers 195,819 194,009
DERIVATIVES - HEDGE ACCOUNTING 953 1,090
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK 28 (21)
INVESTMENTS IN SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES 30,563 30,734
Subsidiaries 29,445 29,634
Joint ventures 54 58
Associates 1,065 1,042
TANGIBLE ASSETS 4,467 1,739
Property, plants and equipment 4,384 1,737
For own use 4,384 1,737
Other assets leased out under an operating lease - -
Investment properties 83 2
INTANGIBLE ASSETS 905 898
Goodwill - -
Other intangible assets 905 898
TAX ASSETS 13,760 13,990
Current tax assets 1,443 1,410
Deferred tax assets 12,317 12,580
OTHER ASSETS 2,600 4,187
Insurance contracts linked to pensions 2,096 2,032
Inventories - -
Other 504 2,155
NON-CURRENT ASSETS AND DISPOSAL GROUPS HELD FOR SALE 967 1,065
TOTAL ASSETS 408,634 399,940
  • (*) Presented for comparison purposes only.

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LIABILITIES AND EQUITY (Millions of euros)

2019 2018 (*)
FINANCIAL LIABILITIES HELD FOR TRADING 74,364 68,242
Derivatives 32,503 29,748
Short positions 9,956 9,235
Deposits from central banks 1,867 5,149
Deposits from credit institutions 24,425 15,642
Customer deposits 5,612 8,468
Debt certificates - -
Other financial liabilities - -
FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT
OR LOSS		 2,968 1,746
Deposits from central banks - -
Deposits from credit institutions - -
Customer deposits 2,968 1,746
Debt certificates - -
Other financial liabilities - -
Subordinated liabilities - -
FINANCIAL LIABILITIES AT AMORTIZED COST 285,260 283,157
Deposits from central banks 24,390 26,605
Deposits from credit institutions 18,201 20,539
Customer deposits 191,461 192,419
Debt certificates 40,845 35,769
Other financial liabilities 10,362 7,825
Of which: Subordinated liabilities 10,362 10,588
DERIVATIVES - HEDGE ACCOUNTING 1,471 1,068
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK - -
PROVISIONS 4,616 5,125
Pensions and other post employment defined benefit obligations 3,810 4,043
Other long term employee benefits 25 29
Provisions for taxes and other legal contingencies 359 348
Commitments and guarantees given 235 238
Other provisions 188 467
TAX LIABILITIES 1,120 1,197
Current tax liabilities 149 126
Deferred tax liabilities 972 1,071
OTHER LIABILITIES 1,645 1,996
LIABILITIES INCLUDED IN DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE - -
TOTAL LIABILITIES 371,445 362,531
  • (*) Presented for comparison purposes only.

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LIABILITIES AND EQUITY (Continued) (Millions of euros)

2019 2018 (*)
STOCKHOLDERS’ FUNDS 37,570 37,417
Capital 3,267 3,267
Paid up capital 3,267 3,267
Unpaid capital which has been called up - -
Share premium 23,992 23,992
Equity instruments issued other than capital - -
Equity component of compound financial instruments - -
Other equity instruments issued - -
Other equity 48 46
Retained earnings 9,107 8,829
Revaluation reserves - -
Other reserves 1 30
Less: Treasury shares - (23)
Profit or loss attributable to owners of the parent 2,241 2,450
Less: interim dividends (1,086) (1,114)
ACCUMULATED OTHER COMPREHENSIVE INCOME (381) (8)
Items that will not be reclassified to profit or loss (520) (152)
Actuarial gains (losses) on defined benefit pension plans (75) (78)
Non-current assets and disposal groups classified as held for sale - -
Fair value changes of equity instruments measured at fair value through other comprehensive income (469) (190)
Hedge ineffectiveness of fair value hedges for equity instruments measured at fair value through other comprehensive income - -
Fair value changes of equity instruments measured at fair value through other comprehensive income (hedged item) - -
Fair value changes of equity instruments measured at fair value through other comprehensive income (hedging instrument) - -
Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk 24 116
Items that may be reclassified to profit or loss 138 144
Hedge of net investments in foreign operations (effective portion) - -
Foreign currency translation - -
Hedging derivatives. Cash flow hedges (effective portion) (196) (116)
Fair value changes of debt instruments measured at fair value through other comprehensive income 335 260
Hedging instruments (non-designated items) - -
Non-current assets and disposal groups classified as held for sale - -
TOTAL EQUITY 37,189 37,409
TOTAL EQUITY AND TOTAL LIABILITIES 408,634 399,940

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MEMORANDUM ITEM - OFF BALANCE SHEET EXPOSURES (Millions of Euros)

2019 2018 (*)
Loan commitments given 73,582 69,513
Financial guarantees given 9,086 9,197
Contingent commitments given 28,151 27,202
  • (*) Presented for comparison purposes only.

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INCOME STATEMENTS (Millions of Euros)

2019 2018 (*)
Interest income 5,011 4,877
Financial assets at fair value through other comprehensive income 285 394
Financial assets at amortized cost 4,373 4,293
Other interest incomes 353 190
Interest expense (1,548) (1,386)
NET INTEREST INCOME 3,464 3,491
Dividend income 3,304 3,115
Fee and comission income 2,144 2,083
Fee and comission expense (447) (407)
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net 107 109
Financial assets at amortized cost 35 3
Other financial assets and liabilities 72 106
Gains or (losses) on financial assets and liabilities held for trading, net 375 364
Reclassification of financial assets from fair value through other comprehensive income - -
Reclassification of financial assets from amortized cost - -
Other profit or loss 375 364
Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net 35 78
Reclassification of financial assets from fair value through other comprehensive income - -
Reclassification of financial assets from amortized cost - -
Other profit or loss 35 78
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net (101) (41)
Gains (losses) from hedge accounting, net 21 46
Exchange differences, net (133) (60)
Other operating income 125 108
Other operating expense (487) (474)
GROSS INCOME 8,406 8,412
Administrative expense (3,881) (4,077)
Personnel expense (2,394) (2,328)
Other administrative expense (1,487) (1,749)
Depreciation and amortization (673) (452)
Provisions or reversal of provisions (391) (566)
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification (254) (267)
Financial assets measured at amortized cost (254) (278)
Financial assets at fair value through other comprehensive income 1 11
NET OPERATING INCOME 3,208 3,050
Impairment or reversal of impairment of investments in subsidiaries, joint ventures and associates (889) (1,537)
Impairment or reversal of impairment on non-financial assets (78) (27)
Tangible assets (80) (23)
Intangible assets - -
Other assets 2 (4)
Gains (losses) on derecognition of non - financial assets and subsidiaries, net (1) (16)
Negative goodwill recognized in profit or loss - -
Gains (losses) from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations (31) 1,004
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS 2,208 2,474
Tax expense or income related to profit or loss from continuing operations 33 (24)
PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS 2,241 2,450
Profit (loss) after tax from discontinued operations - -
PROFIT FOR THE YEAR 2,241 2,450
  • (*) Presented for comparison purposes only.

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STATEMENTS OF RECOGNIZED INCOME AND EXPENSE (Millions of Euros)

2019 2018 (*)
PROFIT RECOGNIZED IN INCOME STATEMENT 2,241 2,450
OTHER RECOGNIZED INCOME (EXPENSE) (373) (382)
ITEMS NOT SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT (367) (125)
Actuarial gains (losses) from defined benefit pension plans 3 (48)
Non-current assets and disposal groups classified as held for sale - -
Fair value changes of equity instruments measured at fair value through other comprehensive income (271) (199)
Gains (losses) from hedge accounting of equity instruments at fair value through other comprehensive income, net - -
Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk (133) 166
Other valuation adjustments
Income tax related to items not subject to reclassification to income statement 34 (45)
ITEMS SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT (6) (257)
Hedge of net investments in foreign operations (effective portion) - -
Foreign currency translation - -
Translation gains (losses) taken to equity - -
Transferred to profit or loss - -
Other reclassifications - -
Cash flow hedges (effective portion) (115) 29
Valuation gains (losses) taken to equity (115) 29
Transferred to profit or loss - -
Transferred to initial carrying amount of hedged items - -
Other reclassifications - -
Hedging instruments (non-designated elements) - -
Valuation gains (losses) taken to equity - -
Transferred to profit or loss - -
Other reclassifications - -
Debt securities at fair value through other comprehensive income 107 (396)
Valuation gains (losses) taken to equity 173 (292)
Transferred to profit or loss (66) (104)
Other reclassifications - -
Non-current assets and disposal groups held for sale - -
Income tax relating to items subject to reclassification to income statements 2 110
TOTAL RECOGNIZED INCOME/EXPENSE 1,868 2,067
  • (*) Presented for comparison purposes only.

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Statement of changes in equity for the year ended December 31, 2019 of BBVA, S.A.

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Millions of Euros)

Millions of Euros
December 2019 Capital Share
Premium		 Equity instruments
issued other than
capital		 Other Equity Retained
earnings		 Revaluation
reserves		 Other
reserves		 (-) Treasury
shares		 Profit or
loss
attributable
to owners
of the
parent		 Interim
dividends		 Accumulated
other
comprehensive
income		 Total
Balances as of January 1, 2019 3,267 23,992 - 46 8,829 - (30) (23) 2,450 (1,114) (8) 37,409
Effect of changes in accounting policies - - - - - - 1 - - - - 1
Adjusted initial balance 3,267 23,992 - 46 8,829 - (29) (23) 2,450 (1,114) (8) 37,410
Total income/expense recognized - - - - - - - - 2,241 - (373) 1,868
Other changes in equity - - - 1 278 - 29 23 (2,450) 28 - (2,089)
Issuances of common shares - - - - - - - - - - - -
Issuances of preferred shares - - - - - - - - - - - -
Issuance of other equity instruments - - - - - - - - - - - -
Period or maturity of other issued equity instruments - - - - - - - - - - - -
Conversion of debt on equity - - - - - - - - - - - -
Common Stock reduction - - - - - - - - - - - -
Dividend distribution - - - - (1,067) - - - - (1,086) - (2,153)
Purchase of treasury shares - - - - - - - (933) - - - (933)
Sale or cancellation of treasury shares - - - - - - 36 956 - - - 993
Reclassification of financial liabilities to other equity instruments - - - - - - - - - - - -
Reclassification of other equity instruments to financial liabilities - - - - - - - - - - - -
Transfers between total equity entries - - - (1) 1,345 - (8) - (2,450) 1,114 - -
Increase/Reduction of equity due to business combinations - - - - - - - - - - - -
Share based payments - - - - - - - - - - - -
Other increases or (-) decreases in equity - - - 2 - - 1 - - - - 3
Balances as of December 31, 2019 3,267 23,992 - 48 9,107 - 1 - 2,241 (1,086) (381) 37,189

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Statement of changes in equity for the year ended December 31, 2018 of BBVA, S.A.

STATEMENT OF CHANGES IN EQUITY (Millions of Euros)

Millions of Euros
2018(*) Capital Share
Premium		 Equity
instruments
issued other
than capital		 Other Equity Retained
earnings		 Revaluation
reserves		 Other
reserves		 (-) Treasury
shares		 Profit or
loss
attributable
to owners
of the
parent		 Interim
dividends		 Accumulated
other comprehensive
income		 Total
Balances as of January 1, 2018 3,267 23,992 47 - - 12 9,445 - 2,083 (1,045) 409 38,211
Effect of changes in accounting policies - - (47) 47 8,766 (12) (9,421) - 129 (129) (35) (702)
Adjusted initial balance 3,267 23,992 - 47 8,766 - 24 - 2,212 (1,174) 374 37,509
Total income/expense recognized - - - - - - - - 2,450 - (382) 2,067
Other changes in equity - - - (1) 63 - (54) (23) (2,212) 60 - (2,167)
Issuances of common shares - - - - - - - - - - - -
Issuances of preferred shares - - - - - - - - - - - -
Issuance of other equity instruments - - - - - - - - - - - -
Period or maturity of other issued equity instruments - - - - - - - - - - - -
Conversion of debt on equity - - - - - - - - - - - -
Common Stock reduction - - - - - - - - - - - -
Dividend distribution - - - - (1,000) - - - - (1,114) - (2,114)
Purchase of treasury shares - - - - - - - (1,288) - - - (1,288)
Sale or cancellation of treasury shares - - - - - - (5) 1,265 - - - 1,260
Reclassification of financial liabilities to other equity instruments - - - - - - - - - - - -
Reclassification of other equity instruments to financial liabilities - - - - - - - - - - - -
Transfers between total equity entries - - - (1) 1,063 - (25) - (2,212) 1,174 - -
Increase/Reduction of equity due to business combinations - - - - - - (23) - - - - (23)
Share based payments - - - - - - - - - - - -
Other increases or (-) decreases in equity - - - - - - (1) - - - - (1)
Balance as of December 31, 2018 3,267 23,992 - 46 8,829 - (30) (23) 2,450 (1,114) (8) 37,409
  • (*) Presented for comparison purposes only.

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CASH FLOWS STATEMENTS (Millions of Euros)

2019 2018(*)
A) CASH FLOWS FROM OPERATING ACTIVITIES (1+2+3+4+5) (9,761) 17,079
1.Profit for the year 2,241 2,450
2.Adjustments to obtain the cash flow from operating activities: 1,755 1,227
Depreciation and amortization 673 452
Other adjustments 1,082 775
3.Net increase/decrease in operating assets (19,440) 10,926
Financial assets held for trading (9,632) 2,178
Non-trading financial assets mandatorily at fair value through profit or loss 871 3,087
Other financial assets designated at fair value through profit or loss - -
Financial assets at fair value through other comprehensive income (5,632) 3,409
Financial assets at amortized cost (6,242) 3,081
Other operating assets 1,195 (829)
4.Net increase/decrease in operating liabilities 5,716 2,451
Financial liabilities held for trading 6,122 (2,718)
Other financial liabilities designated at fair value through profit or loss 1,222 754
Financial liabilities at amortized cost (968) 5,735
Other operating liabilities (660) (1,320)
5.Collection/Payments for income tax (33) 24
B) CASH FLOWS FROM INVESTING ACTIVITIES (1+2) (373) (2,049)
1.Investment (904) (7,081)
Tangible assets (119) (372)
Intangible assets (317) (314)
Investments in subsidiaries, joint ventures and associates (196) (6,083)
Other business units - -
Non-current assets and disposal groups classified as held for sale and associated liabilities (272) (312)
Other settlements related to investing activities - -
2.Divestments 531 5,032
Tangible assets 10 50
Intangible assets - -
Investments in subsidiaries, joint ventures and associates 103 1,678
Other business units - -
Non-current assets classified as held for sale and associated liabilities 418 3,304
Other collections related to investing activities - -
  • (*) Presented for comparison purposes only.

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CASH FLOWS STATEMENTS (Continued) (Millions of Euros)

2019 2018(*)
C) CASH FLOWS FROM FINANCING ACTIVITIES (1 + 2) (2,314) (2,468)
1. Payments (6,114) (5,006)
Dividends (2,153) (2,114)
Subordinated liabilities (3,005) (1,627)
Treasury stock amortization - -
Treasury stock acquisition (956) (1,265)
Other items relating to financing activities - -
2. Collections 3,799 2,538
Subordinated liabilities 2,640 1,262
Common stock increase - -
Treasury stock disposal 993 1,260
Other items relating to financing activities 167 16
D) EFFECT OF EXCHANGE RATE CHANGES (54) (143)
E) NET INCREASE/DECREASE IN CASH OR CASH EQUIVALENTS (A+B+C+D) (12,503) 12,418
F) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 30,922 18,503
G) CASH AND CASH EQUIVALENTS AT END OF THE YEAR (E+F) 18,419 30,921

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COMPONENTS OF CASH AND EQUIVALENTS AT END OF THE YEAR (Millions of Euros)

2019 2018(*)
Cash 1,046 975
Balance of cash equivalent in central banks 15,417 27,290
Other financial assets 1,956 2,656
Less: Bank overdraft refundable on demand - -
TOTAL CASH AND CASH EQUIVALENTS AT END OF THE YEAR 18,419 30,922

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This Appendix is an integral part of Notes 2.1 of the condensed consolidated financial statements for the year ended December 31, 2019.

APPENDIX X. Information on data derived from the special accounting registry and other information bonds

The Bank has implemented policies and procedures for its activities in the mortgage market and in the financing of exportation of goods and services or the process of internationalization of companies, which allow ensuring compliance with the applicable regulations of the mortgage market and for the issuance of bonds.

a) Mortgage market policies and procedures

Information required pursuant to Circular 5/2011 of the Bank of Spain is indicated as follows.

The mortgage origination policy is based on principles focused on assessing the adequate ratio between the amount of the loan, and the payments, and the income of the applicant. Applicants must in all cases prove sufficient repayment ability (present and future) to meet their repayment obligations, for both the mortgage debt and for other debts detected in the financial system. Therefore, the applicant’s repayment ability is a key aspect within the credit decision-making tools and retail risk acceptance manuals, and has a high weighting in the final decision.

During the mortgage risk transaction analysis process, documentation supporting the applicant’s income (payroll, etc.) is required, and the applicant’s position in the financial system is checked through automated database queries (internal and external). This information is used for calculation purposes in order to determine the level of indebtedness/compliance with the remainder of the system. This documentation is kept in the transaction’s file.

In addition, the mortgage origination policy assesses the adequate ratio between the amount of the loan and the appraisal value of the mortgaged asset. The policy also establishes that the property to be mortgaged be appraised by an independent appraisal company as established by Circular 3/2010 and Circular 4/2016. BBVA selects those companies whose reputation, standing in the market and independence ensure that their appraisals adapt to the market reality in each region. Each appraisal is reviewed and checked before the loan is granted and, in those cases where the loan is finally granted, it is kept in the transaction’s file.

As for issues related to the mortgage market, the Finance area annually defines the strategy for wholesale finance issues, and more specifically mortgage bond issues, such as mortgage covered bonds or mortgage securitization. The Assets and Liabilities Committee tracks the budget monthly. The volume and type of assets in these transactions is determined in accordance with the wholesale finance plan, the trend of the Bank’s “Loans and receivables” outstanding balances and the conditions in the market.

The Board of Directors of the Bank authorizes each of the issues of Mortgage Transfer Certificates and/or Mortgage Participations issued by BBVA to securitize the credit rights derived from loans and mortgage loans. Likewise, the Board of Directors authorizes the establishment of a Base Prospectus for the issuance of fixed-income securities through which the mortgage-covered bonds are implemented.

As established in article 24 of Royal Decree 716/2009, of April, 24, by virtue of which certain aspects of Law 2/1981, of 25 March, of regulation of the mortgage market and other rules of the mortgage and financial system are developed, “the volume of outstanding mortgage-covered bonds issued by a bank may not exceed 80% of a calculation base determined by adding the outstanding principal of all the loans and mortgage loans in the bank’s portfolio that are eligible” and which are not covered by the issue of mortgage bonds, mortgage participations or mortgage transfer certificates. For these purposes, in accordance with the aforementioned Royal Decree 716/2009, in order to be eligible, loans and mortgage loans, on a general basis: (i) must be secured by a first mortgage on the freehold; (ii) the loan’s amount may not exceed 80% of the appraisal value for residential mortgages, and 60% for other mortgage lending; (iii) must be established on assets exclusively and wholly owned by the mortgagor; (iv) must have been appraised by an independent appraisal company unrelated to the Group and authorized by the Bank of Spain; and (v) the mortgaged property must be covered at least by a current damage insurance policy.

The Bank has set up a series of controls for mortgage covered bonds, which regularly control the total volume of issued mortgage covered bonds issued and the remaining eligible collateral, to avoid exceeding the maximum limit set by Royal Decree 716/2009, and outlined in the preceding paragraph. In the case of securitizations, the preliminary portfolio of loans and mortgage loans to be securitized is checked according to an agreed procedures engagement, by the Bank’s external auditor as required by the Spanish Securities and Exchange Commission. There is also a series of filters through which some mortgage loans and credits are excluded in accordance with legal, commercial and risk concentration criteria.

b) Quantitative information on activities in the mortgage market

The quantitative information on activities in the mortgage market required by Bank of Spain Circular 5/2011 as of December 31, 2019 and 2018 is shown below.

b.1) Ongoing operations

Mortgage loans. Eligibility for the purpose of the mortgage market (Millions of Euros)

December
2019		 December
2018
Nominal value of outstanding loans and mortgage loans 92,757 97,519
Minus: Nominal value of all outstanding loans and mortgage loans that form part of the portfolio, but have been mobilized through mortgage bond holdings or mortgage transfer certificates. (30,173) (29,781)
Nominal value of outstanding loans and mortgage loans, excluding securitized loans 62,584 67,738
Of which: Loans and mortgage loans which would be eligible if the calculation limits set forth in article 12 of Spanish Royal Decree 716/2009 were not applied. 44,759 45,664
Of which: Minus: Loans and mortgage loans which would be eligible but, according to the criteria set forth in Article 12 of Spanish Royal Decree 716/2009, cannot be used to collateralize any issuance of mortgage bonds. (1,191) (1,240)
Eligible loans and mortgage loans that, according to the criteria set forth in Article 12 of Spanish Royal Decree 716/2009, can be used as collateral for the issuance of mortgage bonds 43,568 44,424
Issuance limit: 80% of eligible loans and mortgage loans that can be used as collateral 34,854 35,539
Issued Mortgage-covered bonds 32,422 24,301
Outstanding Mortgage-covered bonds 14,832 15,207
Capacity to issue mortgage-covered bonds 2,432 11,238
Memorandum items:
Percentage of overcollateralization across the portfolio 193% 279%
Percentage of overcollateralization across the eligible used portfolio 134% 183%
Nominal value of available sums (committed and unused) from all loans and mortgage loans. 5,841 5,267
Of which: Potentially eligible 4,935 4,517
Of which: Ineligible 906 750
Nominal value of all loans and mortgage loans that are not eligible, as they do not meet the thresholds set in Article 5.1 of Spanish Royal Decree 716/2009, but do meet the rest of the eligibility requirements indicated in Article 4 of the Royal Decree. 9,989 12,827
Nominal value of the replacement assets subject to the issue of mortgage-covered bonds. - -

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Mortgage loans. Eligibility for the purpose of the mortgage market (Millions of Euros)

December
2019		 December
2018
Total loans (1) 92,757 97,519
Issued mortgage participations (2) 4,494 4,360
Of which: recognized on the balance sheet 3,213 2,927
Issued mortgage transfer certificates (3) 25,679 25,422
Of which: recognized on the balance sheet 22,899 23,590
Mortgage loans as collateral of mortgages bonds (4) -
Loans supporting the issuance of mortgage-covered bonds 1-2-3-4 62,584 67,738
Non-eligible loans 17,825 22,074
Comply requirements to be eligible except the limit provided for under the article 5.1 of the Spanish Royal Decree 716/2009 9,989 12,827
Other 7,836 9,247
Eligible loans 44,759 45,664
That cannot be used as collateral for issuances 1,191 1,240
That can be used as collateral for issuances 43,568 44,424
Loans used to collateralize mortgage bonds - -
Loans used to collateralize mortgage-covered bonds 43,568 44,424

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Mortgage loans. Classification of the nominal values according to different characteristics (Millions of Euros)

December 2019 December 2018
Total mortgage
loans		 Eligible
loans(*)		 Eligible that can be
used as collateral
for issuances (**)		 Total mortgage
loans		 Eligible
Loans(*)		 Eligible that can be
used as collateral
for issuances (**)
TOTAL 62,584 44,759 43,568 67,738 45,664 44,424
By source of the operations
Originated by the bank 57,541 40,462 39,316 62,170 40,962 39,799
Subrogated by other institutions 838 650 644 797 664 660
Rest 4,205 3,647 3,608 4,771 4,038 3,965
By currency
In Euros 62,263 44,564 43,373 67,255 45,362 44,122
In foreign currency 321 195 195 483 302 302
By payment situation
Normal payment 53,983 41,331 40,608 56,621 41,688 41,057
Other situations 8,601 3,428 2,960 11,117 3,976 3,367
By residual maturity
Up to 10 years 13,788 10,376 10,071 15,169 11,226 10,808
10 to 20 years 26,923 22,521 21,836 28,317 22,907 22,344
20 to 30 years 17,528 10,562 10,398 18,195 9,973 9,752
Over 30 years 4,345 1,300 1,263 6,057 1,558 1,520
By Interest rate
Fixed rate 11,408 6,768 6,720 10,760 5,545 5,467
Floating rate 51,176 37,991 36,848 56,978 40,119 38,957
Mixed rate - - - - - -
By target of operations
For business activity 11,709 6,825 5,918 13,308 7,107 6,196
Of which: public housing 2,333 1,529 743 2,770 1,455 682
Of which: For households 50,875 37,934 37,650 54,430 38,557 38,228
By type of guarantee
Secured by completed assets/buildings 60,638 43,823 42,920 65,535 44,912 43,884
Residential use 52,831 39,329 38,594 56,880 40,098 39,276
Of which: public housing 4,039 3,238 3,094 4,464 3,423 3,278
Commercial 7,779 4,484 4,316 8,618 4,803 4,597
Other 28 10 10 37 11 11
Secured by assets/buildings under construction 1,103 671 446 1,014 369 261
Residential use 862 560 335 721 234 150
Of which: public housing 5 1 1 18 1 1
Commercial 241 111 111 293 135 111
Other - - - - - -
Secured by land 843 265 202 1,189 383 279
Urban 321 98 43 478 134 47
Non-urban 522 167 159 711 249 232
  • (*) Not taking into account the thresholds established by article 12 of Spanish Royal Decree 716/2009.
  • (**) Taking into account the thresholds established by article 12 of Spanish Royal Decree 716/2009.

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December 2019. Nominal value of the total mortgage loans (Millions of Euros)

Loan to Value (Last available appraisal risk)
Less than or
equal to 40%		 Over 40%
but less than
or equal to
60%		 Over 60%
but less than
or equal to
80%		 Over 80% Total
Home mortgages 13,713 14,821 11,562 - 40,096
Other mortgages 2,484 2,179 4,663
Total 16,197 17,000 11,562 - 44,759

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December 2018. Nominal value of the total mortgage loans (Millions of euros)

Loan to Value (Last available appraisal risk)
Less than or
equal to 40%		 Over 40%
but less than
or equal to
60%		 Over 60%
but less than
or equal to
80%		 Over 80% Total
Home mortgages 13,792 15,459 11,704 - 40,955
Other mortgages 2,506 2,203 4,709
Total 16,298 17,662 11,704 45,664

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Eligible and non-eligible mortgage loans. Changes of the nominal values in the year (Millions of Euros)

December 2019 December 2018
Eligible (*) Non-eligible Eligible (*) Non-eligible
Balance at the beginning 45,664 22,074 48,003 24,762
Retirements 7,447 8,498 7,994 7,483
Held-to-maturity cancellations 4,363 1,062 4,425 1,883
Anticipated cancellations 2,231 2,054 2,227 2,625
Subrogations to other institutions 22 10 25 13
Rest 831 5,372 1,317 2,962
Additions 6,542 4,249 5,655 4,795
Originated by the bank 3,219 3,235 2,875 3,376
Subrogations to other institutions 4 2 15 7
Rest 3,319 1,012 2,765 1,412
Balance at the end 44,759 17,825 45,664 22,074
  • (*) Not taking into account the thresholds established by Article 12 of Spanish Royal Decree 716/2009.

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Mortgage loans supporting the issuance of mortgage-covered bonds. Nominal value (Millions of Euros)

December 2019 December 2018
Potentially eligible 4,935 4,517
Non eligible 906 750
Total 5,841 5,267

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b.2) Liabilities operations

Issued mortgage bonds (Millions of Euros)

December 2019 December 2018
Nominal value Average
residual
maturity		 Nominal value Average
residual
maturity
Mortgage bonds - -
Mortgage-covered bonds 32,422 24,301
Of which: Not recognized as liabilities on balance 14,832 9,093
Of Which: Outstanding 17,590 15,207
Debt certificates issued through public offer 12,501 12,501
Residual maturity up to 1 year 2,051 -
Residual maturity over 1 year and less than 2 years 2,750 2,051
Residual maturity over 2 years and less than 3 years 1,250 2,750
Residual maturity over 3 years and less than 5 years 3,250 3,500
Residual maturity over 5 years and less than 10 years 3,000 4,000
Residual maturity over 10 years 200 200
Debt certificates issued without public offer 17,662 9,161
Residual maturity up to 1 year 50 -
Residual maturity over 1 year and less than 2 years 1,500 50
Residual maturity over 2 years and less than 3 years 2,000 1,500
Residual maturity over 3 years and less than 5 years 9,000 2,500
Residual maturity over 5 years and less than 10 years 5,112 5,111
Residual maturity over 10 years - -
Deposits 2,260 2,640
Residual maturity up to 1 year 246 380
Residual maturity over 1 year and less than 2 years 425 246
Residual maturity over 2 years and less than 3 years 368 425
Residual maturity over 3 years and less than 5 years 100 468
Residual maturity over 5 years and less than 10 years 471 471
Residual maturity over 10 years 650 650
Mortgage participations 3,213 267 2,927 269
Issued through public offer 3,213 267 2,927 269
Issued without public offer - - - -
Mortgage transfer certificates 22,899 267 23,590 269
Issued through public offer 22,899 267 23,590 269
Issued without public offer - - - -

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Given the characteristics of the type of covered bonds issued by the Bank, there is no substituting collateral related to these issues.

The Bank does not hold any derivative financial instruments relating to mortgage bond issues, as defined in the aforementioned Royal Decree.

c) Quantitative information on internationalization covered bonds

Below is the quantitative information of BBVA, S.A. internationalization covered bonds required by Bank of Spain Circular 4/2017 as of December 31, 2019 and 2018.

c.1) Assets operations

Principal outstanding payment of loans (Millions of Euros)

Nominal value
December 2019		 Nominal value
December 2018
Eligible loans according to article 34.6 y 7 of the Law 14/2013 3,621 3,369
Minus: Loans that support the issuance of internationalization bonds - -
Minus: NPL to be deducted in the calculation of the issuance limit, according to article 13 del Royal Decree 579/2014 1 4
Total Loans included in the base of all issuance limit 3,620 3,365

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c.2) Liabilities operations

Internationalization covered bonds (Millions of Euros)

Nominal value
December 2019		 Nominal value
December 2018
(1) Debt certificates issued through public offer (a) 1,500 1,500
of which: Treasury shares 1,500 1,500
Residual maturity up to 1 year - 1,500
Residual maturity over 1 year and less than 2 years - -
Residual maturity over 2 years and less than 3 years 1,500 -
Residual maturity over 3 years and less than 5 years - -
Residual maturity over 5 years and less than 10 years - -
Residual maturity over 10 years - -
(2) Debt certificates issued without public offer (a) - -
of which: Treasury shares - -
Residual maturity up to 1 year - -
Residual maturity over 1 year and less than 2 years - -
Residual maturity over 2 years and less than 3 years - -
Residual maturity over 3 years and less than 5 years - -
Residual maturity over 5 years and less than 10 years - -
Residual maturity over 10 years - -
(3) Deposits (b) - -
Residual maturity up to 1 year - -
Residual maturity over 1 year and less than 2 years - -
Residual maturity over 2 years and less than 3 years - -
Residual maturity over 3 years and less than 5 years - -
Residual maturity over 5 years and less than 10 years - -
Residual maturity over 10 years - -
TOTAL: (1) + (2) + (3) 1,500 1,500
Percentage Percentage
Coverage ratio of internationalization covered bonds on loans (c) 41% 45%
  • (a) Balance that includes all internationalization covered bonds issued by the entity pending amortization, although they are not recognized in the liability (because they have not been placed to third parties or have been repurchased).
  • (b) Nominative bonds.
  • (c) Percentage that results from the value of the quotient between the nominal value of the issued and non-overdue bonds, even if they are not recognized in the liability, and the nominal value balance pending collection of the loans that serve as guarantee.

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Given the characteristics of the Bank's internationalization covered bonds, there are no substitute assets assigned to these issuances.

d) Territorial bonds

d.1) Assets operations

December 2019. Loans that serves as collateral for the territorial bonds (Millions of euros)

Nominal Value(a)
Total Spanish Residents Residents in other countries of
the European Economic Area
Central governments 1,473 1,345 128
Regional governments 7,691 7,662 29
Local governments 4,151 4,151 -
Total loans 13,315 13,158 157
  • (a) Principal pending payment of loans.

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December 2018. Loans that serves as collateral for the territorial bonds (Millions of Euros)

Nominal Value(a)
Total Spanish Residents Residents in other
countries of the European
Economic Area
Central governments 1,637 1,592 45
Regional governments 8,363 8,333 30
Local governments 5,145 5,145 -
Total loans 15,145 15,070 75
  • (a) Principal pending payment of loans.

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d.2) Liabilities operations

Territorial bonds (Millions of Euros)

Nominal value
December 2019		 Nominal value
December 2018
Territorial bonds issued (a) 8,040 7,540
Issued through a public offering 8,040 7,540
Of which: Treasury stock 7,540 7,040
Residual maturity up to 1 year 4,500 -
Residual maturity over 1 year and less than 2 years 2,000 4,500
Residual maturity over 2 years and less than 3 years 840 2,000
Residual maturity over 3 years and less than 5 years 700 1,040
Residual maturity over 5 years and less than 10 years - -
Residual maturity over 10 years - -
Other issuances - -
Of which: Treasury stock - -
Residual maturity over 1 year and less than 2 years - -
Residual maturity over 2 years and less than 3 years - -
Residual maturity over 3 years and less than 5 years - -
Residual maturity over 5 years and less than 10 years - -
Residual maturity over 10 years - -
Percentage
Coverage ratio of the territorial bonds on loans (b) 60% 50%
  • (a) Includes the nominal value of all loans that serve as collateral for the territorial bonds, regardless of the item in which they are included in the balance sheet. Principal pending payment of loans. The territorial bonds include all the instruments issued by the entity pending amortization, although they are not recognized in the liability (because they have not been placed to third parties or have been repurchased).
  • (b) Percentage that results from the value of the quotient between the nominal value of the issued and non-overdue bonds, even if they are not recognized in the liability, and the nominal value balance pending collection of the loans that serve as guarantee.

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This Appendix is an integral part of Notes 14.3 and 22.4 of the condensed consolidated financial statements for the year ended December 31, 2019.

APPENDIX XI. Quantitative information on refinancing and restructuring operations and other requirement under Bank of Spain Circular 6/2012

a) Quantitative information on refinancing and restructuring operations

The breakdown of refinancing and restructuring operations as of December 31, 2019, 2018 and 2017 is as follows:

DECEMBER 2019 BALANCE OF FORBEARANCE (Millions of Euros)
TOTAL
Unsecured loans Secured loans Accumulated impairment or accumulated losses in fair value due to credit risk
Maximum amount of secured loans that can be considered
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 73 93 64 64 49 - 11
Other financial corporations and individual entrepreneurs (financial business) 387 8 62 4 3 - 6
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 68,121 5,085 18,283 3,646 1,810 178 3,252
Of which: financing the construction and property (including land) 1,131 400 1,314 688 393 32 428
Other households (*) 173,403 1,510 67,513 5,827 4,414 33 1,519
Total 241,984 6,696 85,922 9,541 6,276 211 4,788
Of which: IMPAIRED
Unsecured loans Secured loans
Maximum amount of secured loans that can be considered Accumulated impairment or accumulated losses in fair value due to credit risk
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 45 41 30 21 16 - 7
Other financial corporations and individual entrepreneurs (financial business) 241 6 30 2 1 - 6
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 39,380 3,148 11,706 2,466 1,020 50 2,923
Of which: financing the construction and property (including land) 819 321 790 445 210 4 392
Other households (*) 96,429 758 34,463 2,908 2,006 17 1,229
Total 136,095 3,954 46,229 5,396 3,044 67 4,164
  • (*) Number of operations does not include Garanti BBVA.
    Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.
    The accumulated impairment or accumulated losses in fair value due to credit risk correspond to €624 million of collective loss allowances and €4,164 million of specific loss allowances.
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DECEMBER 2018 BALANCE OF FORBEARANCE (Millions of Euros)
TOTAL
Unsecured loans Secured loans Accumulated impairment or accumulated losses in fair value due to credit risk
Maximum amount of secured loans that can be considered
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 75 111 46 64 52 - 15
Other financial corporations and individual entrepreneurs (financial business) 252 13 29,360 5 3 - 6
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 44,271 4,483 15,493 4,177 2,200 221 3,148
Of which: financing the construction and property (including land) 734 258 1,627 962 501 12 517
Other households (*) 193,061 1,326 355,466 6,990 5,083 150 1,716
Total 237,659 5,933 400,365 11,236 7,338 371 4,885
Of which: IMPAIRED
Unsecured loans Secured loans
Maximum amount of secured loans that can be considered Accumulated impairment or accumulated losses in fair value due to credit risk
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 46 65 12 16 8 - 10
Other financial corporations and individual entrepreneurs (financial business) 133 4 29,320 4 2 0 5
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 25,420 2,723 9,922 2,777 1,192 100 2,773
Of which: financing the construction and property (including land) 631 200 1,145 656 254 1 477
Other households (*) 116,916 741 42,403 3,673 2,435 26 1,414
Total 142,515 3,533 81,657 6,470 3,636 126 4,202
  • (*) Number of operations does not include Garanti BBVA.
    Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.
    The accumulated impairment or accumulated losses in fair value due to credit risk correspond to €682 million of collective loss allowances and €4,202 million of specific loss allowances.
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DECEMBER 2017 BALANCE OF FORBEARANCE (Millions of Euros)
TOTAL
Unsecured loans Secured loans Accumulated impairment or accumulated losses in fair value due to credit risk
Maximum amount of secured loans that can be considered
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 69 105 135 430 112 302 18
Other financial corporations and individual entrepreneurs (financial business) 4,727 36 93 8 1 - 21
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 113,464 4,672 17,890 6,258 3,182 251 3,579
Of which: financing the construction and property (including land) 1,812 398 3,495 2,345 1,995 - 1,327
Other households (*) 163,101 1,325 109,776 8,477 6,891 18 1,373
Total 281,361 6,138 127,894 15,173 10,186 571 4,991
Of which: IMPAIRED
Unsecured loans Secured loans Accumulated impairment or accumulated losses in fair value due to credit risk
Maximum amount of secured loans that can be considered
Number of operations Gross carrying amount Number of operations Gross carrying amount Real estate mortgage secured Rest of secured loans
Credit institutions - - - - - - -
General Governments 50 72 45 29 22 - 16
Other financial corporations and individual entrepreneurs (financial business) 126 5 16 2 - - 5
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 95,427 2,791 10,994 4,144 1,983 66 3,361
Of which: financing the construction and property (including land) 1,538 208 2,779 1,961 1,273 - 1,282
Other households (*) 105,468 747 47,612 4,330 3,270 6 1,231
Total 201,071 3,615 58,667 8,506 5,275 72 4,612
  • (*) Number of operations does not include Garanti BBVA.
    Includes mortgage-backed real estate operations with loan to value ratio of greater than 1, and secured operations, other than transactions secured by real estate mortgage regardless of their loan to value ratio.
  • The accumulated impairment or accumulated losses in fair value due to credit risk correspond to €378 million of collective loss allowances and €4,612 million of specific loss allowances.
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In addition to the restructuring and refinancing transactions mentioned in this section, loans that were not considered impaired or renegotiated have been modified based on the criteria set out in the accounting regulation that applies. These loans have not been classified as renegotiated or impaired, since they were modified for commercial or competitive reasons (for instance, to improve relationships with clients) rather than for economic or legal reasons relating to the borrower's financial situation.

The table below provides a breakdown by segments of the forbearance operations (net of provisions) as of December 31, 2019, 2018 and 2017:

Forbearance operations. Breakdown by segments (Millions of Euros)

December 2019 December 2018 December 2017
Credit institutions - - -
Central governments 147 160 518
Other financial corporations and individual entrepreneurs (financial activity) 6 13 24
Non-financial corporations and individual entrepreneurs (non-financial activity) 5,479 5,512 7,351
Of which: Financing the construction and property development (including land) 660 702 1,416
Households 5,818 6,600 8,428
Total carrying amount 11,450 12,284 16,321
Financing classified as non-current assets and disposal groups held for sale - - -

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Financing classified as non-current assets and disposal groups held for sale

NPL ratio by type of renegotiated loan

The non-performing ratio of the renegotiated portfolio is defined as the impaired balance of renegotiated loans that shows signs of difficulties as of the closing of the reporting period, divided by the total payment outstanding in that portfolio.

As of December 31, 2019 and December 31, 2018, the non-performing ratio for each of the portfolios of renegotiated loans is as follows:

December 2019. NPL ratio renegotiated loan portfolio

Ratio of Impaired loans - Past due
General governments 39%
Commercial 64%
Of which: Construction and developer 70%
Other consumer 50%

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December 2018. NPL ratio renegotiated loan portfolio

Ratio of Impaired loans - Past due
General governments 47%
Commercial 64%
Of which: Construction and developer 70%
Other consumer 53%

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b) Qualitative information on the concentration of risk by activity and guarantees

Loans and advances to customers by activity (carrying amount)

December 2019 (Millions of Euros)

Collateralized loans and receivables -Loans and advances to customers. Loan to value
Total (*) Mortgage loans Secured loans Less than or equal to 40% Over 40% but less than or equal to 60% Over 60% but less than or equal to 80% Over 80% but less than or equal to 100% Over 100%
General governments 29,257 1,067 10,886 4,914 1,510 1,077 3,651 801
Other financial institutions 23,114 281 13,699 1,856 219 103 11,688 115
Non-financial institutions and individual entrepreneurs 176,474 26,608 30,313 22,901 10,082 8,478 5,270 10,190
Construction and property development 15,171 4,497 2,114 2,313 1,765 1,476 457 600
Construction of civil works 7,146 756 468 499 248 152 106 219
Other purposes 154,157 21,355 27,731 20,089 8,069 6,850 4,707 9,371
Large companies 104,661 8,665 19,058 12,647 3,620 3,828 2,727 4,901
SMEs (**) and individual entrepreneurs 49,496 12,690 8,673 7,442 4,449 3,022 1,980 4,470
Rest of households and NPISHs (***) 167,117 108,031 5,582 23,057 27,714 32,625 20,529 9,688
Housing 110,178 104,796 2,332 20,831 26,639 31,707 18,701 9,250
Consumption 46,356 507 2,075 450 316 174 1,502 140
Other purposes 10,583 2,728 1,175 1,776 759 744 326 298
TOTAL 395,962 135,987 60,480 52,728 39,525 42,283 41,138 20,794
MEMORANDUM ITEM:
Forbearance operations (****) 11,450 7,396 256 1,547 1,427 1,572 1,247 1,859
  • (*) The amounts included in this table are net of loss allowances.
  • (**) Small and medium enterprises.
  • (***) Nonprofit institutions serving households.
  • (****) Net of provisions

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December 2018 (Millions of Euros)

Collateralized loans and receivables -Loans and advances to customers. Loan to value
Total (*) Mortgage loans Secured loans Less than or equal to 40% Over 40% but less than or equal to 60% Over 60% but less than or equal to 80% Over 80% but less than or equal to 100% Over 100%
General governments 30,488 1,056 7,750 1,729 1,856 1,119 3,514 588
Other financial institutions 20,802 233 12,549 1,167 221 93 11,209 92
Non-financial institutions and individual entrepreneurs 173,493 29,001 32,371 25,211 11,121 9,793 5,087 10,160
Construction and property development 14,323 5,226 2,539 1,979 2,556 2,140 486 605
Construction of civil works 7,775 1,082 620 703 285 195 200 319
Other purposes 151,394 22,694 29,212 22,529 8,281 7,459 4,401 9,235
Large companies 97,132 9,912 19,069 13,918 3,979 4,019 2,245 4,820
SMEs (**) and individual entrepreneurs 54,262 12,782 10,143 8,611 4,302 3,440 2,156 4,416
Rest of households and NPISHs (***) 163,068 109,578 5,854 21,974 27,860 33,200 21,490 10,908
Housing 111,007 105,817 2,419 19,981 26,384 32,122 19,345 10,404
Consumption 40,124 522 2,600 489 587 306 1,597 142
Other purposes 11,938 3,239 835 1,505 888 772 547 362
TOTAL 387,850 139,868 58,524 50,082 41,058 44,206 41,300 21,747
MEMORANDUM:
Forbearance operations (****) 12,284 8,325 523 1,508 1,421 1,769 1,527 2,623
  • (*) The amounts included in this table are net of impairment losses.
  • (**) Small and medium enterprises
  • (***) Nonprofit institutions serving households.
  • (****) Net of provisions

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December 2017 (Millions of Euros)

Collateralized Credit Risk. Loan to value
Total (*) Mortgage loans Secured loans Less than or equal to 40% Over 40% but less than or equal to 60% Over 60% but less than or equal to 80% Over 80% but less than or equal to 100% Over 100%
General governments 32,294 998 7,167 1,540 179 475 532 5,440
Other financial institutions 18,669 319 12,910 314 277 106 11,349 1,183
Non-financial institutions and individual entrepreneurs 172,338 39,722 24,793 11,697 5,878 5,183 9,167 32,591
Construction and property development 14,599 10,664 1,066 1,518 876 1,049 1,313 6,974
Construction of civil works 7,733 1,404 521 449 358 289 162 667
Other purposes 150,006 27,654 23,206 9,729 4,644 3,845 7,692 24,950
Large companies 93,604 10,513 16,868 2,769 1,252 1,023 3,631 18,706
SMEs (**) and individual entrepreneurs 56,402 17,142 6,338 6,960 3,392 2,823 4,061 6,244
Rest of households and NPISHs (***) 165,024 114,558 8,395 19,762 22,807 25,595 22,122 32,667
Housing 114,709 111,604 128 18,251 22,222 25,029 21,154 25,076
Consumption 40,705 670 4,784 1,058 256 192 316 3,632
Other purposes 9,609 2,284 3,483 452 330 374 652 3,959
TOTAL 388,325 155,597 53,266 33,312 29,142 31,359 43,170 71,882
MEMORANDUM:
Forbearance operations (****) 16,321 6,584 5,117 1,485 1,315 1,871 1,580 5,451
  • (*) The amounts included in this table are net of loss allowances.
  • (**) Small and medium enterprises
  • (***) Nonprofit institutions serving households.
  • (****) Net of provisions

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c) Information on the concentration of risk by activity and geographical areas

December 2019 (Millions of Euros)

TOTAL (*) Spain European Union Other America Other
Credit institutions 109,471 23,127 40,332 31,851 14,161
General governments 134,929 56,478 9,861 57,174 11,416
Central Administration 96,639 39,573 9,505 36,287 11,274
Other 38,290 16,905 356 20,887 142
Other financial institutions 52,406 13,822 19,828 15,749 3,007
Non-financial institutions and individual entrepreneurs 232,034 70,762 25,963 92,198 43,111
Construction and property development 18,915 3,538 361 11,688 3,328
Construction of civil works 10,607 5,403 1,303 1,431 2,470
Other purposes 202,512 61,821 24,299 79,079 37,313
Large companies 147,643 37,402 23,310 61,858 25,073
SMEs and individual entrepreneurs 54,869 24,419 989 17,221 12,240
Other households and NPISHs 167,379 90,829 3,180 62,098 11,272
Housing 110,178 75,754 725 30,557 3,142
Consumer 46,358 11,954 675 25,897 7,832
Other purposes 10,843 3,121 1,780 5,644 298
TOTAL 696,219 255,018 99,165 259,070 82,967
  • (*) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: “Loans and advances to credit institutions”, “Loans and advances”, “Debt securities”, “Equity instruments”, “Other equity securities”, “Derivatives and hedging derivatives”, “Investments in subsidiaries, joint ventures and associates” and “Guarantees given and contingent risks”. The amounts included in this table are net of loss allowances.

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December 2018 (Millions of Euros)

TOTAL (*) Spain European Union Other America Other
Credit institutions 113,978 35,728 33,440 31,234 13,575
General governments 123,382 53,686 11,081 50,092 8,523
Central Administration 87,611 35,691 10,756 32,735 8,428
Other 35,771 17,995 325 17,357 95
Other financial institutions 49,166 13,784 17,977 15,345 2,061
Non-financial institutions and individual entrepreneurs 226,487 70,536 24,565 87,419 43,967
Construction and property development 17,697 3,497 244 10,113 3,843
Construction of civil works 11,430 5,789 1,535 1,762 2,343
Other purposes 197,361 61,250 22,786 75,543 37,781
Large companies 137,150 36,964 22,114 53,423 24,649
SMEs and individual entrepreneurs 60,211 24,286 672 22,120 13,132
Other households and NPISHs 163,443 91,977 3,383 56,777 11,306
Housing 111,007 78,414 765 28,034 3,794
Consumer 40,124 10,303 629 22,036 7,155
Other purposes 12,312 3,259 1,989 6,707 357
TOTAL 676,456 265,710 90,447 240,867 79,432
  • (*) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: “Loans and advances to credit institutions”, “Loans and advances”, “Debt securities”, “Equity instruments”, “Other equity securities”, “Derivatives and hedging derivatives”, “Investments in subsidiaries, joint ventures and associates” and “Guarantees given and contingent risks”. The amounts included in this table are net of loss allowances.

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December 2017 (Millions of Euros)

TOTAL (*) Spain European Union Other America Other
Credit institutions 70,141 10,606 34,623 13,490 11,422
General governments 121,863 55,391 11,940 44,191 10,341
Central Administration 83,673 35,597 11,625 26,211 10,240
Other 38,190 19,794 316 17,980 101
Other financial institutions 48,000 19,175 14,283 12,469 2,074
Non-financial institutions and individual entrepreneurs 228,227 78,507 20,485 80,777 48,458
Construction and property development 18,619 4,623 339 8,834 4,822
Construction of civil works 12,348 6,936 1,302 2,267 1,843
Other purposes 197,260 66,948 18,843 69,676 41,793
Large companies 134,454 43,286 17,470 48,016 25,681
SMEs and individual entrepreneurs 62,807 23,662 1,373 21,660 16,112
Other households and NPISHs 165,667 93,774 3,609 53,615 14,669
Housing 114,710 81,815 2,720 24,815 5,361
Consumer 40,705 8,711 649 22,759 8,587
Other purposes 10,251 3,248 241 6,041 721
TOTAL 633,899 257,453 84,940 204,542 86,964
  • (*) The definition of risk for the purpose of this statement includes the following items on the public balance sheet: “Loans and advances to credit institutions”, “Loans and advances”, “Debt securities”, “Equity instruments”, “Other equity securities”, “Derivatives and hedging derivatives”, “Investments in subsidiaries, joint ventures and associates” and “Guarantees given and contingent risks”. The amounts included in this table are net of loss allowances.

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This Appendix is an integral part of Note 7.1 and 55.2 of the condensed consolidated financial statements for the year ended December 31, 2019.

APPENDIX XII. Additional information on risk concentration

a) Sovereign risk exposure

The table below provides a breakdown of exposure to financial assets (excluding derivatives and equity instruments), as of December 31, 2019, 2018 and 2017 by type of counterparty and the country of residence of such counterparty. The below figures do not take into account accumulated other comprehensive income, loss allowances or loan-loss provisions:

Risk exposure by countries (Millions of Euros)

Sovereign Risk
December 2019 December 2018 December 2017
Spain 55,575 52,970 54,625
Italy 7,810 9,249 9,827
Turkey 7,999 7,998 9,825
Portugal 924 529 722
Germany 224 362 259
United Kingdom 43 51 41
France 93 122 383
Netherlands 1 9 16
Romania 480 493 417
Rest of Europe 142 197 229
Subtotal Europe 73,291 71,981 76,343
Mexico 32,630 26,562 25,114
The United States 19,802 18,645 14,059
Colombia 1,828 2,577 2,320
Argentina 1,557 628 1,192
Peru 582 750 535
Venezuela 7 1 137
Rest of countries 3,726 955 1,761
Subtotal rest of countries 60,131 50,118 45,119
Total exposure to financial instruments 133,421 122,099 121,462

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The exposure to sovereign risk set out in the above table includes positions held in government debt securities in countries where the Group operates. They are used for ALCO’s management of the interest-rate risk on the balance sheets of the Group’s entities in these countries, as well as for hedging of pension and insurance commitments by insurance entities within the BBVA Group.

The table below provides a breakdown of the exposure of the Group’s credit institutions to sovereign risk as of December 31, 2019 by type of financial instrument and the country of residence of the counterparty, under EBA (European Banking Authority) requirements:

Exposure to Sovereign Risk by European Union Countries. December 2019 (Millions of Euros)

Debt securities Loans and advances Derivatives Total %
Direct exposure Indirect exposure
Notional value Fair value + Fair value - Notional value Fair value + Fair value -
Spain 23,925 26,980 800 30 (17) (877) 1,191 (2,195) 49,836 39%
Italy 4,887 3,183 - - - (722) 287 (1,088) 6,547 5%
Portugal 1,854 180 - - (77) 377 1,788 (1,347) 2,775 2%
Germany 486 - - - - 199 6 (16) 675 1%
United Kingdom - 37 - - - - - - 37 0%
France 468 35 - - - 388 208 (17) 1,082 1%
Netherlands - - - - - - - - - 0%
Romania 479 - - - - - - - 480 0%
Rest of European Union 370 61 142 - (2) (35) 2 (2) 537 0%
Total Exposure to Sovereign Counterparties (European Union) 32,467 30,476 942 30 (96) (670) 3,482 (4,665) 61,967 48%
Mexico 21,399 8,414 1,492 2 (104) 8 - (6) 31,204 24%
The United States 8,741 11,023 29 1 - 112 45 (45) 19,906 15%
Turkey 3,739 4,234 - - - (7) - (8) 7,957 6%
Rest of other countries 5,376 2,212 2,463 46 (200) (572) 3,593 (4,766) 8,152 6%
Total other countries 39,255 25,883 3,983 49 (304) (459) 3,638 (4,826) 67,219 52%
Total 71,722 56,359 4,925 79 (400) (1,129) 7,120 (9,491) 129,186 100%

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This table shows sovereign risk balances with EBA criteria. Therefore, sovereign risk of European countries of the Group’s insurance companies (€11,614 million as of December 31, 2019) is not included. Includes credit derivatives CDS (Credit Default Swaps) shown at fair value.

b) Concentration of risk on activities in the real-estate market in Spain

Quantitative information on activities in the real-estate market in Spain

As of December 31, 2019, 2018 and 2017, exposure to the construction sector and real-estate activities in Spain stood at €9,943 €11,045 and €11,981 million, respectively. Of that amount, risk from loans to construction and real-estate development activities accounted for €2,649, €3,183 and €5,224 million, respectively, representing 1.4%, 1.7% and 2.9% of loans and advances to customers of the balance of business in Spain (excluding the general governments) and 0.4%, 0.5% and 0.8% of the total assets of the Consolidated Group, respectively.

Lending for real estate development of the loans as of December 31, 2019, 2018 and 2017is shown below:

December 2019. Financing allocated by credit institutions to construction and Real Estate development and lending for house purchase (Millions of Euros)

Gross amount Drawn over the
guarantee value		 Accumulated
impairment
Financing to construction and real estate development (including land) (Business in Spain) 2,649 688 (286)
Of which: Impaired assets 567 271 (252)
Memorandum item:
Write-offs 2,265
Memorandum item: -
Total loans and advances to customers, excluding the General Governments (Business in Spain) (book value) 185,893
Total consolidated assets (total business) (book value) 698,690
Impairment and provisions for normal exposures (4,934)

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December 2018. Financing allocated by credit institutions to construction and Real Estate development and lending for house purchase (Millions of Euros)

Gross amount Drawn over the
guarantee value		 Accumulated
impairment
Financing to construction and real estate development (including land) (Business in Spain) 3,183 941 (537)
Of which: Impaired assets 875 440 (463)
Memorandum item:
Write-offs 2,619
Memorandum item:
Total loans and advances to customers, excluding the General Governments (Business in Spain) (book value) 183,196
Total consolidated assets (total business) (book value) 676,689
Impairment and provisions for normal exposures (4,938)

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December 2017. Financing Allocated by credit institutions to Construction and Real Estate Development and lending for house purchase (Millions of Euros)

Gross amount Drawn over the
guarantee value		 Accumulated
impairment
Financing to construction and real estate development (including land) (Business in Spain) 5,224 2,132 (1,500)
Of which: Impaired assets 2,660 1,529 (1,461)
Memorandum item:
Write-offs 2,289
Memorandum item:
Total loans and advances to customers, excluding the General Governments (Business in Spain) (book value) 174,014
Total consolidated assets (total business) (book value) 690,059
Impairment and provisions for normal exposures (5,843)

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The following is a description of the real estate credit risk based on the types of associated guarantees:

Financing allocated by credit institutions to construction and real estate development and lending for house purchase (Millions of Euros)

December 2019 December 2018 December 2017
Without secured loan 298 324 552
With secured loan 2,351 2,859 4,672
Terminated buildings 1,461 1,861 2,904
Homes 1,088 1,382 2,027
Other 373 479 877
Buildings under construction 545 432 462
Homes 348 408 439
Other 197 24 23
Land 345 566 1,306
Urbanized land 240 364 704
Rest of land 105 202 602
Total 2,649 3,183 5,224

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As of December 31, 2019, 2018 and 2017, 55.2%, 58.5%, and 55.6% of loans to developers were guaranteed with buildings (74.5%, 74.3% and 69.8%, are homes), and only 13.0%, 17.8% and 25.0% by land, of which 69.6%, 64.3% and 53.9% % are in urban locations, respectively.

The table below provides the breakdown of the financial guarantees given as of December 31, December 31, 2019, 2018 and 2017:

Financial guarantees given (Millions of Euros)

December 2019 December 2018 December 2017
Houses purchase loans 44 48 64
Without mortgage 5 24 12

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The information on the retail mortgage portfolio risk (housing mortgage) as of December 31, December 31, 2019, 2018 and 2017is as follows:

December 2019. Financing allocated by credit institutions to construction and Real Estate development and lending for house purchase. (Millions of euros)

Gross amount Of which: impaired loans
Houses purchase loans 76,961 2,943
Without mortgage 1,672 22
With mortgage 75,289 2,921

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December 2018. Financing allocated by credit institutions to construction and Real Estate development and lending for house purchase. (Millions of Euros)

Gross amount Of which: impaired loans
Houses purchase loans 80,159 3,852
Without mortgage 1,611 30
With mortgage 78,548 3,822

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December 2017. Financing allocated by credit institutions to construction and Real Estate development and lending for house purchase. (Millions of Euros)

Gross amount Of which: impaired loans
Houses purchase loans 83,505 4,821
Without mortgage 1,578 51
With mortgage 81,927 4,770

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The loan to value (LTV) ratio of the above portfolio is as follows:

LTV breakdown of mortgage to households for the purchase of a home (business in Spain) (Millions of Euros)

Total risk over the amount of the last valuation available (Loan To Value-LTV)
Less than or
equal to 40%		 Over 40% but
less than or
equal to 60%		 Over 60% but
less than or
equal to 80%		 Over 80% but
less than or
equal to 100%		 Over 100% Total
Gross amount 2019 15,105 19,453 20,424 11,827 8,480 75,289
Of which: Impaired loans 182 313 506 544 1,376 2,921
Gross amount 2018 14,491 18,822 21,657 13,070 10,508 78,548
Of which: Impaired loans 204 323 507 610 2,178 3,822
Gross amount 2017 14,485 18,197 20,778 14,240 14,227 81,927
Of which: Impaired loans 293 444 715 897 2,421 4,770

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Outstanding home mortgage loans as of December 31, 2019, 2018 and 2017 had an average LTV of 47%, 49%, and 51% respectively.

The breakdown of foreclosed, acquired, purchased or exchanged assets from debt from loans relating to business in Spain, as well as the holdings and financing to non-consolidated entities holding such assets is as follows:

Information about assets received in payment of debts (Business in Spain) (Millions of euros)

December 2019
Gross
Value		 Provisions Of which: Valuation
adjustments on
impaired assets, from
the time of
foreclosure		 Carrying
Amount
Real estate assets from loans to the construction and real estate development sectors in Spain. 1,048 555 266 493
Terminated buildings 378 150 58 228
Homes 221 81 33 140
Other 157 69 25 88
Buildings under construction 79 44 24 35
Homes 78 43 24 35
Other 1 1 - -
Land 591 361 184 230
Urbanized land 547 338 167 209
Rest of land 44 23 17 21
Real estate assets from mortgage financing for households for the purchase of a home 1,192 612 153 580
Rest of foreclosed real estate assets 451 233 37 218
Equity instruments, investments and financing to non-consolidated companies holding said assets 1,380 293 255 1,087
Total 4,071 1,693 711 2,378

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Information about assets received in payment of debts (Business in Spain) (Millions of Euros)

December 2018
Gross
Value		 Provisions Of which: Valuation
adjustments on
impaired assets, from
the time of foreclosure		 Carrying
Amount
Real estate assets from loans to the construction and real estate development sectors in Spain. 2,165 1,252 828 913
Terminated buildings 991 445 274 546
Homes 588 245 144 343
Other 403 200 130 203
Buildings under construction 209 131 96 78
Homes 194 117 85 77
Other 15 14 11 1
Land 965 676 458 289
Urbanized land 892 633 421 259
Rest of land 73 43 37 30
Real estate assets from mortgage financing for households for the purchase of a home 1,797 932 331 865
Rest of foreclosed real estate assets 348 192 40 156
Equity instruments, investments and financing to non-consolidated companies holding said assets 1,345 234 234 1,111
Total 5,655 2,610 1,433 3,045

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Additionally, in December 18, there was an increase of BBVA, S.A.’s stake in Garanti Yatirim Ortakligi AS through its contribution to the capital increase carried out by the latter entity.

Information about assets received in payment of debts (Business in Spain) (Millions of Euros)

December 2017
Gross
Value		 Provisions Of which: Valuation
adjustments on
impaired assets, from
the time of foreclosure		 Carrying
Amount
Real estate assets from loans to the construction and real estate development sectors in Spain. 6,429 4,350 2,542 2,079
Finished buildings 2,191 1,184 606 1,007
Homes 1,368 742 366 626
Other 823 442 240 381
Buildings under construction 541 359 192 182
Homes 521 347 188 174
Other 20 12 4 8
Land 3,697 2,807 1,744 890
Urbanized land 1,932 1,458 1,031 474
Rest of land 1,765 1,349 713 416
Real estate assets from mortgage financing for households for the purchase of a home 3,592 2,104 953 1,488
Rest of foreclosed real estate assets 1,665 905 268 760
Foreclosed equity instruments 1,135 325 273 810
Total 12,821 7,684 4,036 5,137

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Additionally, in March 2017, there was an increase of BBVA, S.A.’s stake in Testa Residencial through its contribution to the capital increase carried out by the latter entity by contributing assets from the Bank’s real estate assets

As of December 31, 2019, 2018 and 2017, the gross book value of the Group’s real-estate assets from corporate financing of real-estate construction and development was €1.048, €2,165 and €6,429 million, respectively, with an average coverage ratio of 53.0%, 57.8% and 67.7%, respectively.

The gross book value of real-estate assets from mortgage lending to households for home purchase as of December 31, 2019, 2018 and 2017, amounted to €1.192, €1,797 and €3,592 million, respectively, with an average coverage ratio of 51.3%, 51.9% and 58.6%.

As of December 31, 2019, 2018 and 2017, the gross book value of the BBVA Group’s total real-estate assets (business in Spain), including other real-estate assets received as debt payment, was €2.691, €4,310 and €11,686 million, respectively. The coverage ratio was 52.0%, 55.1% and 63.0%, respectively.

This Appendix is an integral part of Note 7.1 of the condensed consolidated financial statements for the year ended December 31, 2019.

c) Concentration of risk by geography

Below is a breakdown of the balances of financial instruments registered in the accompanying consolidated balance sheets by their concentration in geographical areas and according to the residence of the customer or counterparty. As of December 31, 2019, 2018 and 2017 it does not take into account loss allowances or loan-loss provisions:

Risks by geographical areas. December 2019 (Millions of Euros)

Spain Europe, Excluding
Spain		 Mexico The United
States		 Turkey South America Other Total
Derivatives 5,346 17,251 1,344 6,425 189 1,854 777 33,185
Equity instruments (*) 3,745 6,184 3,829 1,311 55 268 247 15,639
Debt securities 48,806 13,283 28,053 17,733 7,934 5,383 4,210 125,403
Central banks - - - - - 1,785 70 1,855
General governments 41,510 9,403 25,852 14,465 7,921 2,732 2,846 104,728
Credit institutions 1,237 1,672 658 150 9 263 611 4,600
Other financial corporations 5,643 1,001 317 2,085 3 433 136 9,619
Non-financial corporations 416 1,207 1,226 1,034 1 170 548 4,602
Loans and advances 171,668 52,024 63,505 65,044 45,872 40,787 9,267 448,166
Central banks 14 (3) - - 3,647 684 478 4,820
General governments 14,477 394 6,820 5,342 111 1,536 637 29,316
Credit institutions 6,621 20,544 2,050 648 1,996 1,012 2,112 34,982
Other financial corporations 3,103 13,351 1,611 2,313 1,248 704 752 23,082
Non-financial corporations 50,718 14,215 24,823 34,960 26,099 17,963 5,130 173,907
Households 96,735 3,523 28,201 21,781 12,773 18,888 158 182,059
Total Risk in Financial Assets 229,564 88,742 96,731 90,512 54,050 48,292 14,501 622,393
Loan commitments given 33,146 26,687 17,361 35,185 8,665 8,060 1,819 130,923
Financial guarantees given 3,182 1,605 656 754 3,170 911 705 10,984
Other Commitments given 16,204 9,125 1,534 2,075 5,065 2,808 2,397 39,209
Off-balance sheet exposures 52,532 37,417 19,551 38,014 16,900 11,779 4,922 181,116
Total Risks in Financial Instruments 282,096 126,159 116,282 128,526 70,950 60,072 19,423 803,508
  • (*) Equity instruments are shown net of valuation adjustment.

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Risks by geographical areas. December 2018 (Millions of Euros)

Spain Europe, Excluding
Spain		 Mexico The United
States		 Turkey South America Other Total
Derivatives 3,979 16,055 1,550 7,057 161 1,150 583 30,536
Equity instruments (*) 3,228 3,669 2,459 1,139 29 212 207 10,944
Debt securities 43,777 14,908 23,134 16,991 8,048 5,274 1,312 113,445
Central banks - - - - - 1,982 71 2,052
General governments 36,553 10,675 20,891 13,276 7,887 2,431 164 91,877
Credit institutions 1,130 1,821 573 74 155 297 463 4,514
Other financial corporations 5,769 1,048 227 2,595 5 432 114 10,190
Non-financial corporations 325 1,364 1,443 1,046 1 132 500 4,812
Loans and advances 177,077 43,034 55,248 62,193 45,285 40,007 7,089 429,933
Central banks 294 - - - 3,688 342 1,674 6,110
General governments 16,671 329 5,727 5,369 99 1,923 453 30,572
Credit institutions 5,422 13,600 1,476 696 956 984 639 23,774
Other financial corporations 4,616 10,893 1,303 2,255 766 637 304 20,773
Non-financial corporations 51,942 14,317 22,426 32,480 26,813 18,518 3,852 170,349
Households 98,131 3,783 24,316 21,393 12,963 17,602 168 178,355
Total risk in financial assets 228,061 77,666 82,392 87,381 53,523 46,644 9,191 584,858
Loan commitments given 32,582 21,983 14,503 32,136 7,914 8,590 1,252 118,959
Financial guarantees given 3,242 1,708 1,528 796 6,900 989 1,291 16,454
Other commitments given 15,995 9,229 532 2,118 2,230 2,782 2,213 35,098
Off-balance sheet exposures 51,819 32,920 16,563 35,050 17,043 12,360 4,756 170,511
Total risks in financial Instruments 279,880 110,586 98,955 122,430 70,567 59,004 13,947 755,369
  • (*) Equity instruments are shown net of valuation adjustment.

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Risks by geographical areas. December 2017 (Millions of Euros)

Spain Europe, Excluding
Spain		 Mexico The United
States		 Turkey South America Other Total
Derivatives 6,336 20,506 1,847 4,573 113 977 921 35,273
Equity instruments (*) 3,539 4,888 2,050 991 36 333 71 11,908
Debt securities 44,773 15,582 21,594 13,280 10,601 5,861 1,450 113,140
Central banks 49 - - 2,734 - 2,685 - 5,468
General governments 36,658 11,475 19,323 8,894 9,668 2,246 221 88,485
Credit institutions 1,364 2,095 289 98 884 387 752 5,869
Other financial corporations 6,492 994 337 3,026 7 315 194 11,365
Non-financial corporations 259 1,018 1,645 1,262 42 228 234 4,688
Loans and advances 185,597 41,426 50,352 54,315 56,062 42,334 4,585 434,670
Central banks - 626 - - 5,299 1,375 - 7,300
General governments 18,116 352 5,868 5,165 152 2,354 398 32,405
Credit institutions 5,564 15,493 1,889 789 1,073 1,145 345 26,297
Other financial corporations 7,769 6,231 588 1,732 1,297 664 270 18,551
Non-financial corporations 54,369 14,615 19,737 29,396 31,691 19,023 3,345 172,175
Households 99,780 4,110 22,269 17,233 16,550 17,773 227 177,942
Total Risk in Financial Assets 240,245 82,401 75,842 73,159 66,812 49,504 7,027 594,990
Loan commitments given 31,100 16,203 1,691 29,539 2,944 11,664 1,126 94,268
Financial guarantees given 4,635 1,427 82 717 7,993 1,174 519 16,546
Other Commitments given 25,279 9,854 1,582 1,879 1,591 3,750 1,804 45,738
Off-balance sheet exposures 61,014 27,484 3,356 32,134 12,527 16,588 3,450 156,552
Total Risks in Financial Instruments 301,259 109,885 79,198 105,293 79,339 66,092 10,477 751,542
  • (*) Equity instruments are shown net of valuation adjustment.

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The breakdown of the main figures in the most significant foreign currencies in the accompanying consolidated balance sheets is set forth in Appendix VII.

The breakdown of loans and advances in the heading of “Loans and receivables”, impaired by geographical area as December 31, 2019, 2018 and 2017is as follows:

Impaired financial assets by geographic area (Millions of Euros)

December 2019 December 2018 December 2017
Spain 8,616 10,025 13,318
Rest of Europe 175 225 549
Mexico 1,478 1,138 1,124
South America 1,769 1,715 1,468
The United States 632 733 631
Turkey 3,289 2,520 2,311
Rest of the world 2 2 -
IMPAIRED RISKS 15,959 16,359 19,401

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APPENDIX XIII. Information in accordance with article 89 of Directive 2013/36/EU of the European Parliament and its application to Spanish Law through Law 10/2014

December 31, 2019 (Millions of Euros)

Country CIT
payments
cash basis		 CIT expense
consol		 PBT consol Gross
income		 Nº
Employees
(*)		 Activity Main Entity
Mexico 964 993 3,544 7,873 37,805 Finance, banking and insurance services BBVA Bancomer S.A.
Spain (**) (15) 226 (911) 5,558 30,283 Finance, banking and insurance services BBVA S.A.
Turkey 246 289 1,151 3,269 20,634 Finance, banking and insurance services Garanti BBVA AS
United States 135 123 751 3,225 10,825 Finance and banking services BBVA USA
Colombia 97 128 438 1,000 6,899 Finance, banking and insurance services BBVA Colombia S.A.
Argentina 27 37 234 1,026 6,402 Finance, banking and insurance services Banco BBVA Argentina S.A.
Peru 205 172 636 1,286 6,420 Finance and banking services BBVA Banco Continental S.A.
Venezuela - 1 (8) 35 2,516 Finance, banking and insurance services BBVA Banco Provincial S.A.
Chile 30 19 69 201 956 Financial services Forum Servicios Financieros, S.A.
Romania 4 7 43 106 1,267 Finance and banking services GBR Garanti Bank SA
Uruguay 11 8 53 175 576 Finance and banking services BBVA Uruguay S.A.
Paraguay 8 3 34 85 428 Finance and banking services BBVA Paraguay S.A.
Bolivia 3 3 11 29 424 Pensions BBVA Previsión AFP SA
Netherlands 1 3 10 61 247 Finance and banking services Garantibank BBVA International N.V.
Switzerland 12 1 6 41 116 Finance and banking services BBVA (Switzerland) S.A.
Finland - - (20) 1 112 Financial services Holvi Payment Service OY
Ireland - - - 1 - Financial services BBVA Ireland PCL
Brasil - - - 2 6 Financial services BBVA Brasil Banco de Investimento, S.A.
Curaçao - - 6 8 16 Finance and banking services Banco Provincial Overseas N.V.
Portugal 5 10 46 94 458 Finance and banking services BBVA - Portugal Branch Office
United Kingdom 2 3 45 83 120 Banking services BBVA -London Branch Office
Hong Kong - 5 38 50 85 Banking services BBVA -Hong-Kong Branch Office
France 17 11 39 61 71 Banking services BBVA -Paris Branch Office
Italy 3 9 26 55 51 Banking services BBVA -Milan Branch Office
Germany 21 (11) 9 37 44 Banking services BBVA -Frankfurt Branch Office
Belgium - - 2 7 23 Banking services BBVA -Brussels Branch Office
China - - (2) 4 26 Banking services BBVA -Shanghai Branch Office
Singapore 1 1 8 9 9 Banking services BBVA -Singapur Branch Office
Japan - - 1 2 3 Banking services BBVA -Tokio Branch Office
Taiwan - (1) (2) 5 11 Banking services BBVA -Taipei Branch Office
Cyprus 6 7 31 36 111 Banking services Garanti - Nicosia Branch Office
Malta 9 8 111 117 14 Banking services Garanti -Valletta Branch Office
Total 1,792 2,053 6,398 24,542 126,958
  • (*) Full time employees. The 15 employees of representative offices are not included in the total number.
  • (**) In “CIT payments cash basis”, the methodology for calculating advance payments of the annual tax return provided for in Corporate Income Tax legislation, may lead to differences between the advance payments made in the current year and the refund of those advance payments made in previous years resulting once the annual corporate income tax return has been submitted. As a result of these differences, there has been a net cash refund. The amount of “Profit before taxes includes Corporate Center (see Note 6).

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The results of this breakdown of the branches are integrated in the financial statements of the parent companies on wich they depend.

As of December 31, 2019, the return of the Group’s assets calculated by dividing the “Profit” between “Total Assets” is 0.62%.

In 2019 (*), BBVA group has not received public aid for the financial sector which has the aim of promoting the carrying out of banking activities and which is significant. This statement is made for the purposes of article 89 of Directive 2013/36/UE of the European Parliament and of the Council of June 26 (on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms) and its transposition to Spanish legislation by means of Law 10/2014 on Monitoring, Supervision and Solvency of Credit Institutions of June 26.

(*) BBVA disclosed by means of public relevant events: (i) on 07/27/2012 the closing of the acquisition of UNNIM Banc, S.A. and (ii) on 04/24/2015 the closing of the acquisition of Catalunya Banc, S.A.