Appendices

APPENDIX I. Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2020

% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net carrying
amount		 Equity excluding profit
(loss)
31.12.20		 Profit (loss) 31.12.20
ACTIVOS MACORP SL SPAIN REAL ESTATE 50.63 49.37 100.00 21 22 -
ADQUIRA MEXICO SA DE CV MEXICO COMMERCIAL - 100.00 100.00 3 3 -
ALCALA 120 PROMOC. Y GEST.IMMOB. S.L. SPAIN REAL ESTATE - 100.00 100.00 15 19 (3)
ANIDA GRUPO INMOBILIARIO SL SPAIN INVESTMENT COMPANY 100.00 - 100.00 1,464 1,552 (101)
ANIDA INMOBILIARIA, S.A. DE C.V. MEXICO INVESTMENT COMPANY - 100.00 100.00 71 41 5
ANIDA OPERACIONES SINGULARES, S.A. SPAIN REAL ESTATE - 100.00 100.00 1,341 1,443 (102)
ANIDA PROYECTOS INMOBILIARIOS, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 27 23 4
ANIDAPORT INVESTIMENTOS IMOBILIARIOS, UNIPESSOAL, LTDA PORTUGAL REAL ESTATE - 100.00 100.00 27 7 10
ANTHEMIS BBVA VENTURE PARTNERSHIP LLP UNITED KINGDOM INVESTMENT COMPANY - 100.00 100.00 4 4 -
APLICA NEXTGEN OPERADORA S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - - -
APLICA NEXTGEN SERVICIOS S.A. DE C.V MEXICO SERVICES - 100.00 100.00 1 - -
APLICA TECNOLOGIA AVANZADA SA DE CV MEXICO SERVICES 100.00 - 100.00 203 199 10
ARIZONA FINANCIAL PRODUCTS, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 799 798 -
ARRAHONA AMBIT, S.L. SPAIN REAL ESTATE - 100.00 100.00 12 21 -
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 67 -
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 23 (1)
ARRELS CT PROMOU SA SPAIN REAL ESTATE - 100.00 100.00 28 32 (2)
AZLO BUSINESS, INC UNITED STATES SERVICES - 100.00 100.00 - 23 (23)
BAHIA SUR RESORT S.C. SPAIN INACTIVE 99.95 - 99.95 - 1 -
BANCO BBVA ARGENTINA S.A. ARGENTINA BANKING 39.97 26.59 66.55 157 488 333
BANCO BILBAO VIZCAYA ARGENTARIA URUGUAY SA URUGUAY BANKING 100.00 - 100.00 110 164 28
BANCO INDUSTRIAL DE BILBAO SA SPAIN BANKING - 99.93 99.93 48 47 -
BANCO OCCIDENTAL SA SPAIN BANKING 49.43 50.57 100.00 17 18 -
BANCO PROVINCIAL OVERSEAS NV CURAÇAO BANKING - 100.00 100.00 49 47 2
BANCO PROVINCIAL SA - BANCO UNIVERSAL VENEZUELA BANKING 1.46 53.75 55.21 33 143 (9)
BBV AMERICA SL SPAIN INVESTMENT COMPANY 100.00 - 100.00 79 627 12
BBVA (SUIZA) SA SWITZERLAND BANKING 100.00 - 100.00 98 122 9
BBVA AGENCIA DE SEGUROS COLOMBIA LTDA COLOMBIA INSURANCES SERVICES - 100.00 100.00 - - -
BBVA ASSET MANAGEMENT SA SAF PERU FINANCIAL SERVICES - 100.00 100.00 9 5 4
BBVA ASSET MANAGEMENT SA SGIIC SPAIN OTHER INVESTMENT COMPANIES 100.00 - 100.00 43 (66) 113
BBVA ASSET MANAGEMENT SA SOCIEDAD FIDUCIARIA (BBVA FIDUCIARIA) COLOMBIA FINANCIAL SERVICES - 100.00 100.00 28 19 9
BBVA AUTOMERCANTIL COMERCIO E ALUGER DE VEICULOS AUTOMOVEIS LDA. PORTUGAL FINANCIAL SERVICES 100.00 - 100.00 6 6 -
BBVA BANCO CONTINENTAL SA (1) PERU BANKING - 46.12 46.12 972 1,944 164
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, 2020. 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, 2020.
  • (**) 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 as of December 31, 2020 (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding profit
(loss)
31.12.20		 Profit (loss) 31.12.20
BBVA BANCOMER OPERADORA SA DE CV MEXICO SERVICES - 100.00 100.00 20 17 3
BBVA BANCOMER SA INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA BANCOMER MEXICO BANKING - 100.00 100.00 9,920 8,443 1,474
BBVA BANCOMER SEGUROS SALUD SA DE CV MEXICO INSURANCES SERVICES - 100.00 100.00 8 8 1
BBVA BANCOMER SERVICIOS ADMINISTRATIVOS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 49 40 9
BBVA BOLSA SOCIEDAD AGENTE DE BOLSA S.A. PERU SECURITIES DEALER - 100.00 100.00 4 3 1
BBVA BRASIL BANCO DE INVESTIMENTO SA BRAZIL BANKING 100.00 - 100.00 16 19 -
BBVA BROKER ARGENTINA SA ARGENTINA INSURANCES SERVICES - 99.96 99.96 - 3 4
BBVA BROKER CORREDURIA DE SEGUROS Y REASEGUROS SA SPAIN FINANCIAL SERVICES 99.94 0.06 100.00 - 1 5
BBVA COLOMBIA SA COLOMBIA BANKING 77.41 18.06 95.47 355 1,155 112
BBVA CONSOLIDAR SEGUROS SA ARGENTINA INSURANCES SERVICES 87.78 12.22 100.00 9 18 17
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 24 20 3
BBVA DATA & ANALYTICS SL SPAIN SERVICES - 100.00 100.00 6 4 -
BBVA DISTRIBUIDORA DE SEGUROS S.R.L. URUGUAY FINANCIAL SERVICES - 100.00 100.00 4 2 2
BBVA FINANCIAL CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 210 212 (2)
BBVA FINANZIA SPA ITALY IN LIQUIDATION 100.00 - 100.00 3 3 -
BBVA FOREIGN EXCHANGE INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 26 20 7
BBVA FRANCES ASSET MANAGMENT S.A. SOCIEDAD GERENTE DE FONDOS COMUNES DE INVERSIÓN. ARGENTINA FINANCIAL SERVICES - 100.00 100.00 14 9 5
BBVA FUNDOS S.GESTORA FUNDOS PENSOES SA PORTUGAL PENSION FUND MANAGEMENT 100.00 - 100.00 8 8 2
BBVA GLOBAL FINANCE LTD CAYMAN ISLANDS PENSION FUNDS MANAGEMENT 100.00 - 100.00 - 4 -
BBVA GLOBAL MARKETS BV NETHERLANDS FINANCIAL SERVICES 100.00 - 100.00 - - -
BBVA GLOBAL SECURITIES, B.V. NETHERLANDS OTHER ISSUERS COMPANIES 100.00 - 100.00 - - -
BBVA HOLDING CHILE SA CHILE INVESTMENT COMPANY 61.22 38.78 100.00 139 315 26
BBVA INFORMATION TECHNOLOGY ESPAÑA SL SPAIN SERVICES 76.00 - 76.00 1 2 1
BBVA INSTITUIÇAO FINANCEIRA DE CREDITO SA PORTUGAL FINANCIAL SERVICES 49.90 50.10 100.00 39 54 4
BBVA INSURANCE AGENCY, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 48 43 5
BBVA INTERNATIONAL PREFERRED SOCIEDAD ANONIMA SPAIN FINANCIAL SERVICES 100.00 - 100.00 - - -
BBVA IRELAND PLC (IN LIQUIDATION) IRELAND FINANCIAL SERVICES 100.00 - 100.00 2 3 -
BBVA LEASING MEXICO SA DE CV MEXICO FINANCIAL SERVICES - 100.00 100.00 51 126 8
BBVA MEDIACION OPERADOR DE BANCA-SEGUROS VINCULADO, S.A. SPAIN FINANCIAL SERVICES - 100.00 100.00 10 (8) 17
BBVA MORTGAGE CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 2,799 2,730 68
BBVA NEXT TECHNOLOGIES OPERADORA, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 - 1 -
BBVA NEXT TECHNOLOGIES SLU SPAIN INVESTMENT COMPANY 100.00 - 100.00 37 27 5
BBVA NEXT TECHNOLOGIES, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 1 2 1
BBVA OP3N S.L. SPAIN SERVICES - 100.00 100.00 - 3 -
BBVA OPEN PLATFORM INC UNITED STATES SERVICES - 100.00 100.00 2 10 (8)
BBVA PARAGUAY SA PARAGUAY BANKING 100.00 - 100.00 23 144 23
BBVA PENSIONES SA ENTIDAD GESTORA DE FONDOS DE PENSIONES SPAIN PENSION FUNDS MANAGEMENT 100.00 - 100.00 13 17 8
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2020. 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, 2020.
  • (**) 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 as of December 31, 2020 (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.20		 Profit (loss)
31.12.20
BBVA PERU HOLDING SAC PERU INVESTMENT COMPANY 100.00 - 100.00 124 902 76
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 4 9
BBVA PROCESSING SERVICES INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1 1 -
BBVA PROCUREMENT SERVICES AMERICA DEL SUR SpA, IN LIQUIDATION CHILE IN LIQUIDATION - 100.00 100.00 4 6 (1)
BBVA RE INHOUSE COMPAÑIA DE REASEGUROS, S.E. SPAIN INSURANCES SERVICES - 100.00 100.00 39 47 12
BBVA REAL ESTATE MEXICO, S.A. DE C.V. MEXICO IN LIQUIDATION - 100.00 100.00 - - -
BBVA SECURITIES INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 223 186 37
BBVA SEGUROS COLOMBIA SA COLOMBIA INSURANCES SERVICES 94.00 6.00 100.00 10 13 10
BBVA SEGUROS DE VIDA COLOMBIA SA COLOMBIA INSURANCES SERVICES 94.00 6.00 100.00 14 104 26
BBVA SEGUROS SA DE SEGUROS Y REASEGUROS SPAIN INSURANCES SERVICES 99.96 - 99.96 713 462 594
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 13 13 -
BBVA TRANSFER HOLDING INC UNITED STATES INVESTMENT COMPANY - 100.00 100.00 104 87 18
BBVA TRANSFER SERVICES INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 77 66 11
BBVA USA UNITED STATES BANKING - 100.00 100.00 8,687 10,394 (1,707)
BBVA USA BANCSHARES, INC. UNITED STATES INVESTMENT COMPANY 100.00 - 100.00 9,018 11,136 (1,632)
BBVA VALORES COLOMBIA SA COMISIONISTA DE BOLSA COLOMBIA SECURITIES DEALER - 100.00 100.00 10 9 -
BBVA WEALTH SOLUTIONS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 15 10 4
BILBAO VIZCAYA HOLDING SA SPAIN INVESTMENT COMPANY 89.00 11.00 100.00 67 132 (77)
CAIXA MANRESA IMMOBILIARIA ON CASA SL SPAIN REAL ESTATE 100.00 - 100.00 2 2 -
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 92 127 (3)
CASA DE BOLSA BBVA BANCOMER SA DE CV MEXICO SECURITIES DEALER - 100.00 100.00 39 20 19
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 IMMOBILIARIA SA SPAIN REAL ESTATE 100.00 - 100.00 315 314 -
CATALUNYACAIXA SERVEIS SA SPAIN SERVICES 100.00 - 100.00 2 2 -
CDD GESTIONI S.R.L. ITALY REAL ESTATE 100.00 - 100.00 - - -
CETACTIUS SL SPAIN REAL ESTATE 100.00 - 100.00 1 1 -
CIDESSA DOS, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 15 15 -
CIERVANA SL SPAIN INVESTMENT COMPANY 100.00 - 100.00 53 54 (2)
COMERCIALIZADORA CORPORATIVA SAC PERU FINANCIAL SERVICES - 50.00 50.00 - - -
COMERCIALIZADORA DE SERVICIOS FINANCIEROS, S.A. COLOMBIA SERVICES - 100.00 100.00 5 4 2
COMPAÑIA CHILENA DE INVERSIONES SL SPAIN INVESTMENT COMPANY 99.97 0.03 100.00 221 249 10
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2020. 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, 2020.
  • (**) 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 as of December 31, 2020 (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.20		 Profit (loss)
31.12.20
COMPASS CAPITAL MARKETS, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 6,866 6,799 67
COMPASS GP, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 41 41 -
COMPASS INSURANCE TRUST UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - -
COMPASS LIMITED PARTNER, INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 6,027 5,960 66
COMPASS LOAN HOLDINGS TRS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 68 68 -
COMPASS MORTGAGE FINANCING, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - -
COMPASS SOUTHWEST, LP UNITED STATES FINANCIAL SERVICES - 100.00 100.00 4,973 4,925 48
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 4 4 -
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 1,453 9
COVAULT, INC UNITED STATES SERVICES - 100.00 100.00 - 3 (2)
DALLAS CREATION CENTER, INC UNITED STATES SERVICES - 100.00 100.00 2 2 -
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 - 3 -
DATA ARQUITECTURE AND TECHNOLOGY OPERADORA SA DE CV MEXICO SERVICES - 100.00 100.00 - - -
DENIZEN FINANCIAL, INC UNITED STATES SERVICES - 100.00 100.00 1 1 -
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 75.54 107 153 (4)
ECASA, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 30 24 6
EMPRENDIMIENTOS DE VALOR S.A. URUGUAY PAYMENT ENTITIES - 100.00 100.00 2 2 -
ENTRE2 SERVICIOS FINANCIEROS E.F.C SA SPAIN FINANCIAL SERVICES 100.00 - 100.00 9 9 -
EUROPEA DE TITULIZACION SA SGFT . SPAIN FINANCIAL SERVICES 88.24 - 88.24 2 17 3
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 -
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 48 45 4
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 4 1 3
FIDEICOMISO INMUEBLES CONJUNTO RESIDENCIAL HORIZONTES DE VILLA CAMPESTRE COLOMBIA REAL ESTATE - 100.00 100.00 - 1 -
FIDEICOMISO LOTE 6.1 ZARAGOZA COLOMBIA REAL ESTATE - 59.99 59.99 - 2 -
FIDEICOMISO SCOTIABANK INVERLAT S A F100322908 MEXICO REAL ESTATE - 100.00 100.00 2 2 -
FINANCIERA AYUDAMOS S.A. DE C.V., SOFOMER MEXICO IN LIQUIDATION - 100.00 100.00 5 4 -
FOMENTO Y DESARROLLO DE CONJUNTOS RESIDENCIALES S.L. IN LIQUIDATIO SPAIN IN LIQUIDATION - 60.00 60.00 - - -
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2020. 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, 2020.
  • (**) 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 as of December 31, 2020 (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.20		 Profit (loss)
31.12.20
FORUM COMERCIALIZADORA DEL PERU SA PERU SERVICES - 100.00 100.00 - - -
FORUM DISTRIBUIDORA DEL PERU SA PERU FINANCIAL SERVICES - 100.00 100.00 6 5 -
FORUM DISTRIBUIDORA, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 43 39 1
FORUM SERVICIOS FINANCIEROS, S.A. CHILE FINANCIAL SERVICES - 100.00 100.00 244 208 25
FUTURO FAMILIAR, S.A. DE C.V. MEXICO IN LIQUIDATION - 100.00 100.00 1 1 -
G NETHERLANDS BV NETHERLANDS INVESTMENT COMPANY - 100.00 100.00 340 282 (3)
GARANTI BANK SA ROMANIA BANKING - 100.00 100.00 258 316 17
GARANTI BBVA AS(1) TURKEY BANKING 49.85 - 49.85 4,679 6,228 775
GARANTI BBVA EMEKLILIK AS TURKEY INSURANCES SERVICES - 84.91 84.91 105 63 59
GARANTI BBVA FACTORING AS TURKEY FINANCIAL SERVICES - 81.84 81.84 19 17 6
GARANTI BBVA FILO AS TURKEY SERVICES - 100.00 100.00 1 3 39
GARANTI BBVA LEASING AS TURKEY FINANCIAL SERVICES - 100.00 100.00 126 108 18
GARANTI BBVA PORTFOY AS TURKEY FINANCIAL SERVICES - 100.00 100.00 22 14 8
GARANTI BBVA YATIRIM AS TURKEY FINANCIAL SERVICES - 100.00 100.00 89 28 61
GARANTI BILISIM TEKNOLOJISI VE TIC TAS TURKEY SERVICES - 100.00 100.00 11 12 1
GARANTI DIVERSIFIED PAYMENT RIGHTS FINANCE COMPANY CAYMAN ISLANDS FINANCIAL SERVICES - 100.00 100.00 - (16) (17)
GARANTI FILO SIGORTA ARACILIK HIZMETLERI A.S. TURKEY FINANCIAL SERVICES - 100.00 100.00 - - -
GARANTI HOLDING BV NETHERLANDS INVESTMENT COMPANY - 100.00 100.00 280 340 -
GARANTI KONUT FINANSMANI DANISMANLIK HIZMETLERI AS (GARANTI MORTGAGE) TURKEY SERVICES - 100.00 100.00 - - -
GARANTI KULTUR AS TURKEY SERVICES - 100.00 100.00 - - -
GARANTI ODEME SISTEMLERI AS (GOSAS) TURKEY FINANCIAL SERVICES - 100.00 100.00 - 2 -
GARANTI YATIRIM ORTAKLIGI AS(1)(2) TURKEY INVESTMENT COMPANY - 3.61 3.61 - 4 -
GARANTIBANK BBVA INTERNATIONAL N.V. NETHERLANDS BANKING - 100.00 100.00 595 585 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 11 -
GESCAT LLEVANT, S.L. SPAIN REAL ESTATE - 100.00 100.00 5 3 3
GESCAT LLOGUERS SL SPAIN REAL ESTATE 100.00 - 100.00 3 4 -
GESCAT VIVENDES EN COMERCIALITZACIO SL SPAIN REAL ESTATE 100.00 - 100.00 89 89 -
GESTION DE PREVISION Y PENSIONES SA SPAIN PENSION FUND MANAGEMENT 60.00 - 60.00 9 15 7
GESTION Y ADMINISTRACION DE RECIBOS, S.A. - GARSA SPAIN SERVICES - 100.00 100.00 1 1 -
GRAN JORGE JUAN SA SPAIN REAL ESTATE 100.00 - 100.00 424 423 14
GRUPO FINANCIERO BBVA BANCOMER SA DE CV MEXICO FINANCIAL SERVICES 99.98 - 99.98 6,678 9,374 1,747
GUARANTY BUSINESS CREDIT CORPORATION UNITED STATES FINANCIAL SERVICES - 100.00 100.00 30 30 -
GUARANTY PLUS HOLDING COMPANY UNITED STATES INVESTMENT COMPANY - 100.00 100.00 - - -
HOLVI PAYMENT SERVICE OY FINLAND FINANCIAL SERVICES - 100.00 100.00 - 27 (17)
HUMAN RESOURCES PROVIDER, INC UNITED STATES SERVICES - 100.00 100.00 302 299 3
HUMAN RESOURCES SUPPORT, INC UNITED STATES SERVICES - 100.00 100.00 296 294 2
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2020. 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, 2020.
  • (**) 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)
  • (2) The percentage of voting rights owned by the Group entities in this company is 99.97%

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Additional information on subsidiaries and structured entities composing the BBVA Group as of December 31, 2020 (Continued)
% share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.20		 Profit (loss)
31.12.20
INMESP DESARROLLADORA, S.A. DE C.V. MEXICO REAL ESTATE - 100.00 100.00 17 16 1
INMUEBLES Y RECUPERACIONES CONTINENTAL SA PERU REAL ESTATE - 100.00 100.00 39 37 2
INPAU, S.A. SPAIN REAL ESTATE - 100.00 100.00 25 25 -
INVERAHORRO SL SPAIN INVESTMENT COMPANY 100.00 - 100.00 100 107 (7)
INVERPRO DESENVOLUPAMENT, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 4 9 1
INVERSIONES ALDAMA, C.A. VENEZUELA PENSION FUNDS MANAGEMENT - 100.00 100.00 - - -
INVERSIONES BANPRO INTERNATIONAL INC NV(1) CURAÇAO INVESTMENT COMPANY 48.00 - 48.01 16 43 2
INVERSIONES BAPROBA CA VENEZUELA FINANCIAL SERVICES 100.00 - 100.00 - - -
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 - (57) (4)
LIQUIDITY ADVISORS LP UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1,071 1,055 16
MADIVA SOLUCIONES, S.L. SPAIN SERVICES - 100.00 100.00 9 2 -
MISAPRE, S.A. DE C.V. MEXICO FINANCIAL SERVICES - 100.00 100.00 - - -
MOMENTUM SOCIAL INVESTMENT HOLDING, S.L. SPAIN INVESTMENT COMPANY - 100.00 100.00 7 7 1
MOTORACTIVE IFN SA ROMANIA FINANCIAL SERVICES - 100.00 100.00 35 27 3
MOTORACTIVE MULTISERVICES SRL ROMANIA SERVICES - 100.00 100.00 - 2 -
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 32 24 8
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 2 -
OPENPAY COLOMBIA SAS COLOMBIA PAYMENT ENTITIES - 100.00 100.00 1 1 -
OPENPAY S.A. DE C.V. MEXICO PAYMENT ENTITIES - 100.00 100.00 18 2 2
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 2 17
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 SL SPAIN OTHER INVESTMENT COMPANIES 100.00 - 100.00 264 260 5
PENSIONES BBVA BANCOMER, S.A. DE C.V., GRUPO FINANCIERO BBVA BANCOMER MEXICO INSURANCES SERVICES - 100.00 100.00 281 213 68
PHOENIX LOAN HOLDINGS, INC. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 258 256 2
PI HOLDINGS NO. 1, INC. UNITED STATES FINANCIAL SERVICESS - 100.00 100.00 77 77 -
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 51 36 16
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2020. 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, 2020.
  • (**) 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 as of December 2020 (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
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 4 -
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 5 1
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 17 18 -
PRONORTE UNO PROCAM, S.A. SPAIN PAYMENT ENTITIES - 100.00 100.00 - - -
PROPEL VENTURE PARTNERS BRAZIL S.L. SPAIN PAYMENT ENTITIES - 99.80 99.80 10 11 (1)
PROPEL VENTURE PARTNERS GLOBAL, S.L SPAIN FINANCIAL SERVICES - 99.50 99.50 59 87 -
PROPEL VENTURE PARTNERS US FUND I, L.P. UNITED STATES VENTURE CAPITAL - 100.00 100.00 144 122 22
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 FUND MANAGEMENT - 100.00 100.00 2 2 -
PSA FINANCE ARGENTINA COMPAÑIA FINANCIERA SA ARGENTINA BANKING - 50.00 50.00 8 11 4
PUERTO CIUDAD LAS PALMAS, S.A. SPAIN REAL ESTATE - 96.64 96.64 - (26) (1)
QIPRO SOLUCIONES S.L. SPAIN SERVICES - 100.00 100.00 3 3 2
RALFI IFN SA ROMANIA FINANCIAL SERVICES - 100.00 100.00 37 17 2
RPV COMPANY CAYMAN ISLANDS FINANCIAL SERVICES - 100.00 100.00 - (1) -
RWHC, INC UNITED STATES FINANCIAL SERVICES - - 100.00 719 706 13
SAGE OG I, INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 - - -
SAGE OG2, LLC 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 16 -
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 - 100.00 100.00 373 177 196
SEGUROS PROVINCIAL CA VENEZUELA INSURANCES SERVICES - 100.00 100.00 9 11 (1)
SERVICIOS CORPORATIVOS BANCOMER, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 5 5 -
SERVICIOS CORPORATIVOS DE SEGUROS, S.A. DE C.V. MEXICO SERVICES - 100.00 100.00 3 2 1
SERVICIOS EXTERNOS DE APOYO EMPRESARIAL, S.A DE C.V. MEXICO SERVICES - 100.00 100.00 15 14 2
SIMPLE FINANCE TECHNOLOGY CORP. UNITED STATES FINANCIAL SERVICES - 100.00 100.00 40 67 (26)
SOCIEDAD DE ESTUDIOS Y ANALISIS FINANCIERO SA SPAIN SERVICES 100.00 - 100.00 63 71 (8)
SOCIEDAD GESTORA DEL FONDO PUBLICO DE REGULACION DEL MERCADO HIPOTECARIO SA SPAIN PENSION FUNDS MANAGEMENT 77.20 - 77.20 - - -
SPORT CLUB 18 SA SPAIN INVESTMENT COMPANY 100.00 - - 9 10 (1)
TEXAS LOAN SERVICES LP UNITED STATES FINANCIAL SERVICES - 100.00 100.00 1,089 1,070 19
  • (*) 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, 2020.
  • (**) 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 as of December 2020 (Continued)
% Legal share of participation (**) Millions of Euros (*)
Affiliate Entity Data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Equity excluding
profit (loss)
31.12.20		 Profit (loss)
31.12.20
TMF HOLDING INC. UNITED STATES INVESTMENT COMPANY - 100.00 100.00 15 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 16 15 1
UNIVERSALIDAD TIPS PESOS E-9 COLOMBIA FINANCIAL SERVICES - 100.00 100.00 - 26 -
UNNIM SOCIEDAD PARA LA GESTION DE ACTIVOS INMOBILIARIOS SA SPAIN REAL ESTATE 100.00 - 100.00 623 523 (3)
UPTURN FINANCIAL INC UNITED STATES FINANCIAL SERVICES - 100.00 100.00 2 6 (4)
URBANIZADORA SANT LLORENC SA SPAIN INACTIVE 60.60 - 60.60 - - -
VERIDAS DIGITAL AUTHENTICATION SOLUTIONS S.L. SPAIN SERVICES - 51.00 51.00 1 3 1
VOLKSWAGEN FINANCIAL SERVICES COMPAÑIA FINANCIERA SA ARGENTINA BANKING - 51,00 51,00 13 19 7
  • (*) Amount without considering the interim dividends of the year, according to the provisional financial statements of each company, generally as of December 31, 2020. 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, 2020.
  • (**) 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.

This Appendix is an integral part of Note 3 of the consolidated financial statements for the year ended December 31, 2020.

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This Appendix is an integral part of Note 3 of the consolidated financial statements for the year ended December 31, 2020.

APPENDIX II. Additional information on investments joint ventures and associates in the BBVA Group as of December 31, 2020

Acquisitions or increases of interest ownership in consolidated subsidiaries

Most significant companies are included, which together represent 99% of the total investment in this group.

% Legal share of participation Millions of Euros (*)
Affiliate entity data
Company Location Activity Direct Indirect Total Net Carrying
Amount		 Assets
31.12.20		 Liabilities
31.12.2020		 Equity excluding
profit (loss)
31.12.20		 Profit (loss)
31.12.20
ASSOCIATES
ADQUIRA ESPAÑA, S.A. SPAIN COMMERCIAL - 44.44 44.44 4 19 11 8 1
ATOM BANK PLC UNITED KINGDOM BANKING 39.02 - 39.02 64 3,253 3,089 239 (75)
AUREA, S.A. (CUBA) CUBA REAL ESTATE - 49.00 49.00 4 9 1 8 -
BBVA ALLIANZ SEGUROS Y REASEGUROS, S.A. SPAIN INSURANCES SERVICES - 50.00 50.00 250 753 204 548 -
COMPAÑIA ESPAÑOLA DE FINANCIACION DEL DESARROLLO SA SPAIN PUBLIC ENTITIES AND INSTITUTIONS 16.67 - 16.67 25 155 6 140 10
DIVARIAN PROPIEDAD, S.A.U. SPAIN REAL ESTATE 20.00 - 20.00 567 2,976 143 2,922 (89)
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 1 5 - 7 (2)
METROVACESA SA SPAIN REAL ESTATE 9.44 11.41 20.85 285 2,910 652 2,341 (82)
REDSYS SERVICIOS DE PROCESAMIENTO SL SPAIN FINANCIAL SERVICES 20.00 - 20.00 14 103 32 69 2
ROMBO COMPAÑIA FINANCIERA SA ARGENTINA BANKING - 40.00 40.00 7 91 72 16 2
SERVICIOS ELECTRONICOS GLOBALES SA DE CV MEXICO SERVICES - 46.14 46.14 11 23 - 20 3
SERVIRED SOCIEDAD ESPAÑOLA DE MEDIOS DE PAGO SA SPAIN FINANCIAL SERVICES 28.72 - 28.72 8 45 19 27 (1)
SOLARISBANK AG (2) GERMANY BANKING - 17.59 17.59 39 1,434 1,368 90 (24)
TELEFONICA FACTORING ESPAÑA SA SPAIN FINANCIAL SERVICES 30.00 - 30.00 4 81 67 7 8
TF PERU SAC PERU FINANCIAL SERVICES - 24.30 24.30 1 5 1 3 1
JOINT VENTURES
ALTURA MARKETS SOCIEDAD DE VALORES SA SPAIN SECURITY DEALER 50.00 - 50.00 77 3,122 2,969 143 10
COMPAÑIA MEXICANA DE PROCESAMIENTO SA DE CV MEXICO SERVICES - 50.00 50.00 8 16 - 15 1
CORPORACION IBV PARTICIPACIONES EMPRESARIALES, (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 17 81 47 30 4
FIDEICOMISO 1729 INVEX ENAJENACION DE CARTERA (1) MEXICO REAL ESTATE - 44.09 44.09 15 158 - 158 -
FIDEICOMISO F/402770-2 ALAMAR MEXICO REAL ESTATE - 42.40 42.40 7 16 - 16 -
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 36 571 499 65 7
VITAMEDICA ADMINISTRADORA, S.A. DE C.V (1) MEXICO SERVICES - 51.00 51.00 5 18 9 8 1
  • (*) In foreign companies the exchange rate of December 31, 2020 is applied.
  • (1) Classified as Non-current asset in seld.
  • (2) The percentage of voting rights owned by the Group entities in this company is 22.22%

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This Appendix is an integral part of Notes 3 and 16.1 of the consolidated financial statements for the year ended December 31, 2020.

APPENDIX III. Changes and notifications of participations in the BBVA Group in 2020

Acquisitions or increases of interest ownership in consolidated subsidiaries
Company (*) Type of transaction Total voting rights controlled after the disposal Effective Date for the Transaction (or Notification Date)
ADQUIRA MEXICO SA DE CV ACQUISITION 100.00 30-Sep-20
PROPEL VENTURE PARTNERS BRAZIL S.L. CONSTITUTION 99.80 28-May-20
BBVA GLOBAL SECURITIES, B.V. CONSTITUTION 100.00 07-Dec-20
  • (*) Variations of less than 0.1% have not been considered due to immateriality

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Changes and notifications of participations in the BBVA Group in 2020 (continued)

Disposals or reduction of interest ownership in consolidated subsidiaries
Company (*) Type of transaction Total voting rights controlled after the disposal Effective date for the transaction (or notification date)
CIDESSA UNO SL MERGER - 24-Nov-20
EL ENCINAR METROPOLITANO, S.A. LIQUIDATION - 1-Aug-20
DENIZEN GLOBAL FINANCIAL SAU LIQUIDATION - 25-Nov-20
FIDEICOMISO N.989 EN THE BANK OF NEW YORK MELLON SA INSTITUCION DE BANCA MULTIPLE FIDUCIARIO (FIDEIC.00989 6 EMISION) MERGER - 30-Sep-20
FIDEICOMISO Nº 847 EN BANCO INVEX SA INSTITUCION DE BANCA MULTIPLE INVEX GRUPO FINANCIERO FIDUCIARIO (FIDEIC. INVEX 4ª EMISION) MERGER - 30-Jun-20
BBVA CONSULTING (BEIJING) LIMITED LIQUIDATION - 2-Dec-20
EL MILANILLO, S.A. LIQUIDATION - 27-Oct-20
F/403035-9 BBVA HORIZONTES RESIDENCIAL DISPOSAL - 31-Oct-20
HOLAMUNO AGENTE DE SEGUROS VINCULADO, S.L.U. IN LIQUIDATION LIQUIDATION - 14-Feb-20
HOLVI DEUTSCHLAND SERVICE GMBH (IN LIQUIDATION) LIQUIDATION - 14-Feb-20
ARRAHONA RENT, S.L.U. LIQUIDATION - 27-Jul-20
L'EIX IMMOBLES, S.L. LIQUIDATION - 27-Jul-20
ESPAIS SABADELL PROMOCIONS INMOBILIARIES. S.A. LIQUIDATION - 28-Jul-20
HABITATGES FINVER, S.L. LIQUIDATION - 28-Jul-20
HABITATGES JUVIPRO, S.L. LIQUIDATION - 28-Jul-20
CATALUNYACAIXA CAPITAL SA MERGER - 21-Sep-20
CLUB GOLF HACIENDA EL ALAMO, S.L.(IN LIQUIDATION) LIQUIDATION - 12-Aug-20
GESCAT SINEVA, S.L. LIQUIDATION - 29-Jul-20
GESCAT POLSKA SP ZOO LIQUIDATION - 12-Feb-20
EXPANSION INTERCOMARCAL SL LIQUIDATION - 28-Jul-20
NOIDIRI SL LIQUIDATION - 28-Jul-20
CAIXA MANRESA IMMOBILIARIA SOCIAL SL LIQUIDATION - 27-Jul-20
  • (*) Variations of less than 0.1% have not been considered due to immateriality

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Changes and notifications of participations in the BBVA Group in 2020 (continued)

Business combinations and other acquisitions or increases of interest ownership in associates and joint-ventures accounted for under the equity method
Company (*) Type of transaction Total voting rights controlled after the disposal Effective date for the transaction (or notification date)
ADQUIRA ESPAÑA, S.A. CAPITAL REDUCTION 44.44 31-Mar-20
FIDEICOMISO 1729 INVEX ENAJENACION DE CARTERA ACQUISITION 44.09 18-Aug-20
BBVA ALLIANZ SEGUROS Y REASEGUROS, S.A. CONSTITUTION 50.00 05-May-20
PLAY DIGITAL SA CONSTITUTION 33.33 27-May-20
  • (*) Variations of less than 0.1% have not been considered due to immateriality

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Changes and notifications of participations in the BBVA Group in 2020 (continued)

Disposal or reduction of interest ownership in associates and joint-ventures companies accounted for under the equity method
Company (*) Type of transaction Total voting rights controlled after the disposal Effective date for the transaction (or notification date)
CAJA DE EMI. CON GAR. DE ANUALIDADES DEBIDA POR EL ESTADO SA LIQUIDATION - 13-Oct-20
BATEC MOBILITY. S.L. DISPOSAL - 28-Jan-20
CAPIPOTA PRODUCTIONS S.L. DISPOSAL - 10-Dec-20
FIDEICOMISO DE ADMINISTRACION REDETRANS DISPOSAL - 18-Sep-20
SOCIEDADE ALTITUDE SOFTWARE-SISTEMA E SERVIÇOS SA DISPOSAL - 30-Dec-20
SOLARISBANK AG(1) CAPITAL INCREASE 17.59 30-Sep-20
PLAY DIGITAL SA DILUTION 13.00 15-Dec-20
NOVA LLAR SANT JOAN, S.A. IN LIQUIDATION LIQUIDATION - 03-Apr-20
  • (*) Variations of less than 0.1% have not been considered due to immateriality
  • (1)The percentage of voting rights owned by the Group entities in this company is 22.22%

This Appendix is an integral part of Notes 3 and 16.1 of the consolidated financial statements for the year ended December 31, 2020.

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APPENDIX IV. Fully consolidated subsidiaries with more than 10% owned by non-Group shareholders as of December 31, 2020

% 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 - 48.01
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/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 SERVICES - 84.91 84.91
FOMENTO Y DESARROLLO DE CONJUNTOS RESIDENCIALES S.L. IN LIQUIDATION 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

This Appendix is an integral part of Note 3 of the consolidated financial statements for the year ended December 31, 2020.

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APPENDIX V. BBVA Group’s structured entities in 2020. Securitization funds

Millions of Euros
Securitization fund (consolidated) Company Origination Date Total securitized
exposures at the
origination date		 Total securitized exposures as of 31.12.2020 (*)
TDA 27 MIXTO, FTA BBVA, S.A. Dec-06 275 71
BBVA RMBS 16 FT BBVA, S.A. May-16 1,600 1,151
HIPOCAT 9 FTA BBVA, S.A. Nov-05 1,016 150
TDA TARRAGONA 1 FTA BBVA, S.A. Nov-07 397 85
BBVA RMBS15 FT BBVA, S.A. May-15 4,000 2,725
BBVA RMBS 5 FTA BBVA, S.A. May-08 5,000 2,043
TDA 22 MIXTO, FTA (UNNIM) BBVA, S.A. Dec-04 592 19
HIPOCAT 10 FTA BBVA, S.A. Jul-06 1,526 220
BBVA VELA SME 2020-1 BBVA, S.A. Jun-20 1,245 957
TDA 19 MIXTO, FTA BBVA, S.A. Feb-04 600 18
BBVA CONSUMER AUTO 2020-1 BBVA, S.A. Jun-20 1,100 1,100
BBVA RMBS 10 FTA BBVA, S.A. Jun-11 1,600 993
HIPOCAT 8 FTA BBVA, S.A. May-05 1,500 196
AYT HIP MIXTO V BBVA, S.A. Jul-06 120 26
BBVA RMBS 2 FTA BBVA, S.A. Mar-07 5,000 1,485
BBVA RMBS 18 FT BBVA, S.A. Nov-17 1,800 1,475
TDA 20 MIXTO, FTA BBVA, S.A. Jun-04 100 10
TDA 23 MIXTO, FTA BBVA, S.A. Mar-05 860 34
BBVA CONSUMO 9 FT BBVA, S.A. Mar-17 1,375 582
BBVA RMBS 14 FTA BBVA, S.A. Nov-14 700 406
AYT HIPOTECARIO MIXTO IV, FTA BBVA, S.A. Jun-05 100 13
BBVA RMBS 9 FTA BBVA, S.A. Apr-10 1,295 725
BBVA LEASING 2 FT BBVA, S.A. Jul-20 2,100 1,941
BBVA EMPRESAS 4 FTA BBVA, S.A. Jul-10 1,700 20
TDA 28 MIXTO, FTA BBVA, S.A. Jul-07 250 71
HIPOCAT 6 FTA BBVA, S.A. Sep-03 850 81
TDA 18 MIXTO, FTA BBVA, S.A. Nov-03 91 9
BBVA RMBS 3 FTA BBVA, S.A. Jul-07 3,000 1,222
BBVA CONSUMO 10 FT BBVA, S.A. Jul-19 2,000 1,945
BBVA LEASING 1 FTA BBVA, S.A. Jun-07 2,500 14
BBVA RMBS 11 FTA BBVA, S.A. Jun-12 1,400 875
BBVA RMBS 13 FTA BBVA, S.A. Jul-14 4,100 2,707
BBVA CONSUMO 8 FT BBVA, S.A. Jul-16 700 222
BBVA RMBS 12 FTA BBVA, S.A. Dec-13 4,350 2,735
BBVA CONSUMER AUTO 2018-1 BBVA, S.A. Jun-18 800 557
BBVA RMBS 1 FTA BBVA, S.A. Feb-07 2,500 799
BBVA RMBS 19 FT BBVA, S.A. Nov-19 2,000 1,852
BBVA-6 FTPYME FTA BBVA, S.A. Jun-07 1,500 5
GAT VPO (UNNIM) BBVA, S.A. Jun-09 780 48
HIPOCAT 11 FTA BBVA, S.A. Mar-07 1,628 237
BBVA RMBS 17 FT BBVA, S.A. Nov-16 1,800 1,340
HIPOCAT 7 FTA BBVA, S.A. Jun-04 1,400 165
  • (*) 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, 2020, 2019 and 2018

Outstanding as of December 31, 2020, 2019 and 2018 of subordinated issues
Millions of Euros
Issuer entity and issued date Currency December
2020		 December
2019		 December
2018		 Prevailing Interest
Rate
as of December 31,
2020		 Maturity
Date
Issues in Euros
BANCO BILBAO VIZCAYA ARGENTARIA S.A.
March-08 EUR 125 125 125 6.03% 03-Mar-33
July-08 EUR 100 100 100 6.20% 04-Jul-23
February-14 EUR - - 1,500 7.00% Perpetual
April-14 EUR - - 1,494 3.50% 11-Apr-24
February-15 EUR - 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 1,000 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 1,000 990 5.88% Perpetual
February-19 EUR 750 750 - 2.58% 22-feb-29
March-19 EUR 1,000 1,000 - 6.00% Perpetual
January-20 EUR 994 - - 1.00% 16-Jan-30
July-20 EUR 1,000 - - 6.00% Perpetual
Different issues EUR 330 379 384
Subtotal EUR 8,113 7,668 8,906
Total issued in Euros EUR 8,113 7,668 8,906
  • (*) 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, 2020, 2019 and 2018 of subordinated issues (continued)
Millions of Euros
Issuer entity and issued date Currency December 2020 December 2019 December 2018 Prevailing
Interest Rate
as of December
31, 2020		 Maturity
Date
Issues in foreign currency
BANCO BILBAO VIZCAYA ARGENTARIA SA
March-17 USD 98 107 105 5.70% 31-Mar-32
November-17 USD 815 890 873 6.13% Perpetual
May-18 USD 243 265 260 5.25% 29-May-33
September-19 USD 815 890 - 6.50% Perpetual
Subtotal USD 1,970 2,152 1,238
May-17 CHF 19 18 18 1.60% 24-May-27
Subtotal CHF 19 18 18
July-20 GBP 334 - - 3.10% 15-Jul-31
Subtotal GBP 334 - -
BBVA GLOBAL FINANCE LTD
December-95 USD 162 177 169 7.00% 01-Dec-25
Subtotal USD 162 177 169
BBVA BANCOMER S.A. INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO BBVA BANCOMER
April-10 USD - 667 874 7.25% 22-Apr-20
March-11 USD 612 667 1,092 6.50% 10-Mar-21
July-12 USD 1,223 1,333 1,311 6.75% 30-Sep-22
November-14 USD 163 178 175 5.35% 12-Nov-29
January-18 USD 815 889 874 5.13% 18-Jan-33
September-19 USD 612 667 - 5.88% 13-Sep-34
Subtotal USD 3,425 4,401 4,325
BBVA URUGUAY
Different issues USD - 2 -
Subtotal USD - 2 -
BBVA PARAGUAY S.A. (**) - - - - 0.00%
November-14 USD 16 18 19 6.75% 05-Nov-21
November-15 USD 20 22 23 6.70% 18-Nov-22
Subtotal USD 37 40 42
BBVA USA (**)
March-05 USD - 203 199 5.50% 01-Apr-20
March-06 USD 58 63 62 5.90% 01-Apr-26
April-15 USD 570 623 611 3.88% 10-Apr-25
Subtotal USD 628 889 872
  • (*) The issuances of BBVA Global Finance, Ltd, are guaranteed (secondary liability) by the Bank.
  • (**) The amount of 2020 is recorded under the heading “Liabilities included in disposal groups classified as held for sale”.

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Outstanding as of December 31, 2020, 2019 and 2018 of subordinated issues
Millions of Euros
Issuer Entity and Issued Date
(continued) 		Currency December
2020		 December
2019		 December
2018		 Prevailing Interest
Rate
as of December 31,
2020		 Maturity
Date
BBVA COLOMBIA SA
September-11 COP 25 29 28 4.45% 19-Sep-21
September-11 COP 37 42 42 4.70% 19-Sep-26
February-13 COP 47 54 53 3.60% 19-Feb-23
February-13 COP 39 45 44 3.89% 19-Feb-28
November-14 COP 21 24 24 4.38% 26-Nov-29
November-14 COP 30 34 43 4.50% 26-Nov-34
Subtotal COP 200 229 234
April-15 USD 324 333 332 4.88% 21-Apr-25
Subtotal USD 324 333 332
BBVA BANCO CONTINENTAL S.A.
June-07 PEN 18 22 20 3.47% 18-Jun-32
November-07 PEN 16 19 18 3.56% 19-Nov-32
July-08 PEN 15 17 16 3.06% 08-Jul-23
September-08 PEN 16 18 17 3.09% 09-Sep-23
December-08 PEN 9 11 10 4.19% 15-Dec-33
Subtotal PEN 74 87 82
May-07 USD 16 18 17 6.00% 14-May-27
February-08 USD 17 18 18 6.47% 28-Feb-28
October-13 USD 37 41 40 6.53% 02-Oct-28
September-14 USD 257 269 252 5.25% 22-Sep-29
Subtotal USD 327 346 328
GARANTI BBVA AS
May-17 USD 607 664 652 6.13% 24-May-27
Subtotal USD 607 664 652
October-19 TRY 28 38 - 16.00% 07-Oct-29
February-20 TRY 82 - - 17.95% 14-Feb-30
Subtotal TRY 110 38 -
Total issues in other currencies (million euros) 8,217 9,376 8,292

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Outstanding as of December 31, 2020, 2019 and 2018 of subordinated issues (Millions of euros)
December 2020 December 2019 December 2018
Issuer Entity and Issued Date Currency Amount Issued Currency Amount Issued Currency Amount Issued
BBVA COLOMBIA S.A.
December-93 COP - COP 20 COP 19
BBVA International Preferred, S.A.U.
July-07 GBP 35 GBP 37 GBP 35
PHOENIX LOAN HOLDINGS INC.
November-00 USD 17 USD 19 USD 18
CAIXA TERRASSA SOCIETAT DE PARTICIPACIONS PREFERENTS SAU
August-05 EUR 74 EUR 28 EUR 52
CAIXASABADELL PREFERENTS S.A.
July-06 EUR 85 EUR 56 EUR 56

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APPENDIX VII Consolidated balance sheets held in foreign currency as of December 31, 2020, 2019 and 2018

December 2020 (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 16,615 4,847 772 4,130 26,365
Financial assets held for trading 5,114 22,154 359 6,112 33,740
Non- trading financial assets mandatorily at fair value through profit or loss 883 3,369 7 291 4,549
Financial assets at fair value through comprehensive income 7,073 7,723 2,489 8,087 25,373
Financial assets at amortized cost 39,841 53,184 26,810 38,036 157,871
Joint ventures and associates 5 14 - 246 265
Tangible assets 15 1,819 858 852 3,544
Other assets 83,406 2,053 1,191 2,009 88,658
Total 152,953 95,163 32,486 59,764 340,366
Liabilities
Financial liabilities held for trading 4,562 18,489 471 772 24,295
Financial liabilities at amortized cost 67,165 54,429 18,930 43,468 183,993
Other liabilities 78,724 6,662 687 7,393 93,466
Total 150,452 79,580 20,088 51,633 301,753

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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 20,878 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
  • This Appendix is an integral part of Notes 2.2.15 of the consolidated financial statements for the year ended December 31, 2020.

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APPENDIX VIII. Consolidated income statements for the first and second half of 2020 and 2019

Consolidated income statements for the first and second half of 2020 and 2019

CONSOLIDATED INCOME STATEMENTS FOR THE FIRST AND SECOND HALF OF 2020 AND 2019 (Millions of Euros)

Six months ended June 30, 2020 Six months ended December 31, 2020 Six months ended June 30, 2019 Six months ended December 31, 2019
Interest and other income 11,828 10,561 14,009 13,753
Interest expense (4,267) (3,530) (6,256) (5,716)
NET INTEREST INCOME 7,561 7,031 7,752 8,037
Dividend income 74 63 97 56
Share of profit or loss of entities accounted for using the equity method (17) (22) (19) (23)
Fee and commission income 2,987 2,993 3,296 3,490
Fee and commission expense (929) (928) (1,089) (1,196)
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net 202 (63) 48 137
Gains (losses) on financial assets and liabilities held for trading, net 270 508 161 259
Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net 129 79 98 45
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net 203 (147) (5) (93)
Gains (losses) from hedge accounting, net 35 (28) 69 (14)
Exchange differences, net 176 183 132 449
Other operating income 221 271 324 315
Other operating expense (814) (848) (961) (981)
Income from insurance and reinsurance contracts 1,307 1,190 1,547 1,342
Expense from insurance and reinsurance contracts (765) (755) (983) (769)
GROSS INCOME 10,639 9,527 10,470 11,052
Administration costs (3,999) (3,800) (4,332) (4,437)
Personnel expense (2,385) (2,310) (2,642) (2,709)
Other administrative expense (1,614) (1,491) (1,689) (1,728)
Depreciation and amortization (661) (627) (683) (703)
Provisions or reversal of provisions (518) (228) (249) (364)
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification (3,572) (1,607) (1,444) (2,108)
Financial assets measured at amortized cost (3,502) (1,658) (1,440) (2,030)
Financial assets at fair value through other comprehensive income (70) 51 (5) (78)
NET OPERATING INCOME 1,889 3,264 3,761 3,440
Impairment or reversal of impairment of investments in joint ventures and associates (60) (130) - (46)
Impairment or reversal of impairment on non-financial assets (65) (88) (44) (85)
Tangible assets (62) (63) (30) (64)
Intangible assets (3) (16) (1) (10)
Other assets - (9) (12) (11)
Gains (losses) on derecognition of non-financial assets and subsidiaries, net 3 (10) 5 (10)
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 (10) 454 11 12
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS 1,757 3,491 3,734 3,312
Tax expense or income related to profit or loss from continuing operations (477) (982) (1,080) (863)
PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS 1,281 2,508 2,654 2,449
Profit (loss) after tax from discontinued operations (2,104) 375 262 (1,020)
PROFIT (LOSS) FOR THE YEAR (823) 2,883 2,916 1,429
ATTRIBUTABLE TO MINORITY INTEREST (NON-CONTROLLING INTERESTS) 333 423 475 359
ATTRIBUTABLE TO OWNERS OF THE PARENT (1,157) 2,462 2,442 1,070
Six months ended June 30, 2020 Six months ended December 31, 2020 Six months ended June 30, 2019 Six months ended December 31, 2019
EARNINGS PER SHARE (Euros) (0.20) 0.34 0.34 0.13
Basic earnings (losses) per share from continuing operations 0.11 0.29 0.30 0.28
Diluted earnings (losses) per share from continuing operations 0.11 0.29 0.30 0.28
Basic earnings (losses) per share from discontinued operations (0,32) 0.06 0,04 (0,15)
Diluted earnings (loss) per share from discontinued operations (0,32) 0.06 0,04 (0,15)

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

ASSETS (Millions of euros)

2020 2019 (*)
CASH, CASH BALANCES AT CENTRAL BANKS AND OTHER DEMAND DEPOSITS 44,107 18,419
FINANCIAL ASSETS HELD FOR TRADING 87,677 83,841
Derivatives 36,545 31,987
Equity instruments 10,682 8,205
Debt securities 9,983 10,213
Loans and advances to central banks 53 484
Loans and advances to credit institutions 19,472 20,688
Loans and advances to customers 10,941 12,263
NON-TRADING FINANCIAL ASSETS MANDATORILY AT FAIR VALUE THROUGH PROFIT OR LOSS 409 855
Equity instruments 183 125
Debt securities 142 128
Loans and advances to customers 84 602
FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS - -
FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME 37,528 24,905
Equity instruments 881 1,749
Debt securities 36,648 23,156
FINANCIAL ASSETS AT AMORTIZED COST 225,914 225,369
Debt securities 23,241 21,496
Loans and advances to central banks 7 5
Loans and advances to credit institutions 8,762 8,049
Loans and advances to customers 193,903 195,819
DERIVATIVES - HEDGE ACCOUNTING 1,011 953
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK 51 28
INVESTMENTS IN SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES 18,380 30,563
Subsidiaries 17,547 29,445
Joint ventures 54 54
Associates 780 1,065
TANGIBLE ASSETS 3,915 4,467
Properties, plant and equipment 3,836 4,384
For own use 3,836 4,384
Other assets leased out under an operating lease - -
Investment properties 80 83
INTANGIBLE ASSETS 840 905
Goodwill - -
Other intangible assets 840 905
TAX ASSETS 12,764 13,760
Current tax assets 633 1,443
Deferred tax assets 12,131 12,317
OTHER ASSETS 2,837 2,600
Insurance contracts linked to pensions 2,074 2,096
Inventories - -
Other 763 504
NON-CURRENT ASSETS AND DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE 9,978 967
TOTAL ASSETS 445,411 407,632
  • (*) Presented for comparison purposes only.

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LIABILITIES AND EQUITY (Millions of euros)

2020 2019 (*)
FINANCIAL LIABILITIES HELD FOR TRADING 69,514 73,362
Derivatives 35,396 31,501
Short positions 9,625 9,956
Deposits from central banks 1,256 1,867
Deposits from credit institutions 16,083 24,425
Customer deposits 7,154 5,612
Debt certificates - -
Other financial liabilities - -
FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS 3,267 2,968
Deposits from central banks - -
Deposits from credit institutions - -
Customer deposits 3,267 2,968
Debt certificates - -
Other financial liabilities - -
Memorandum item: Subordinated LIABILITIES - -
FINANCIAL LIABILITIES AT AMORTIZED COST 331,189 285,260
Deposits from central banks 37,903 24,390
Deposits from credit institutions 22,106 18,201
Customer deposits 217,360 191,461
Debt certificates 43,692 40,845
Other financial liabilities 10,127 10,362
Memorandum item: Subordinated LIABILITIES 11,096 10,362
DERIVATIVES - HEDGE ACCOUNTING 1,510 1,471
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK - -
PROVISIONS 4,449 4,616
Pensions and other post employment defined benefit obligations 3,544 3,810
Other long term employee benefits 18 25
Provisions for taxes and other legal contingencies 439 359
Commitments and guarantees given 270 235
Other provisions 177 188
TAX LIABILITIES 1,071 1,120
Current tax liabilities 173 149
Deferred tax liabilities 898 972
OTHER LIABILITIES 1,543 1,645
LIABILITIES INCLUDED IN DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE - -
TOTAL LIABILITIES 412,543 370,444
  • (*) Presented for comparison purposes only.

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LIABILITIES AND EQUITY (Continued) (Millions of euros)

2020 2019 (*)
SHAREHOLDERS’ FUNDS 33,992 37,570
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 34 48
Retained earnings 8,859 9,107
Revaluation reserves - -
Other reserves 31 1
Less: treasury shares (9) -
Profit or loss attributable to owners of the parent (2,182) 2,241
Less: interim dividends - (1,086)
ACCUMULATED OTHER COMPREHENSIVE INCOME (1,124) (381)
Items that will not be reclassified to profit or loss (1,376) (520)
Actuarial gains (losses) on defined benefit pension plans (61) (75)
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 (1,294) (469)
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 (21) 24
Items that may be reclassified to profit or loss 252 138
Hedge of net investments in foreign operations (effective portion) - -
Foreign currency translation - -
Hedging derivatives. Cash flow hedges (effective portion) (100) (196)
Fair value changes of debt instruments measured at fair value through other comprehensive income 352 335
Hedging instruments (non-designated items) - -
Non-current assets and disposal groups classified as held for sale - -
TOTAL EQUITY 32,867 37,189
TOTAL EQUITY AND TOTAL LIABILITIES 445,411 407,632

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

2020 2019 (*)
Loan commitments given 80,959 73,582
Financial guarantees given 8,745 9,086
Other commitments given 25,711 28,151
  • (*) Presented for comparison purposes only

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INCOME STATEMENTS (Millions of Euros)

2020 2019 (*)
Interest income 4,629 4,933
Financial assets at fair value through other comprehensive income 253 285
Financial assets at amortized cost 3,839 4,295
Other interest income 536 353
Interest expense (1,115) (1,548)
NET INTEREST INCOME 3,514 33,385
Dividend income 1,360 2,853
Fee and commission income 2,125 2,144
Fee and commission expense (358) (447)
Gains (losses) on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net 87 107
Financial assets at amortized cost 100 35
Other financial assets and liabilities (13) 72
Gains (losses) on financial assets and liabilities held for trading, net 353 375
Reclassification of financial assets from fair value through other comprehensive income - -
Reclassification of financial assets from amortized cost - -
Other profit or loss 353 375
Gains (losses) on non-trading financial assets mandatorily at fair value through profit or loss, net 28 35
Reclassification of financial assets from fair value through other comprehensive income - -
Reclassification of financial assets from amortized cost - -
Other profit or loss 28 35
Gains (losses) on financial assets and liabilities designated at fair value through profit or loss, net (69) (101)
Gains (losses) from hedge accounting, net 13 21
Exchange differences, net (29) (133)
Other operating income 142 125
Other operating expense (529) (487)
GROSS INCOME 6,637 7,877
Administrative expense (3,553) (3,881)
Personnel expense (2,144) (2,394)
Other administrative expense (1,409) (1,487)
Depreciation and amortization (663) (673)
Provisions or reversal of provisions (475) (391)
Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification (1,232) (175)
Financial assets measured at amortized cost (1,228) (176)
Financial assets at fair value through other comprehensive income (4) 1
NET OPERATING INCOME 715 2,757
Impairment or reversal of impairment of investments in subsidiaries, joint ventures and associates (319) (610)
Impairment or reversal of impairment on non-financial assets (105) (78)
Tangible assets (105) (80)
Intangible assets - -
Other assets - 2
Gains (losses) on derecognition of non - financial assets and subsidiaries, net 1 (1)
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 (43) (31)
PROFIT (LOSS) BEFORE TAX FROM CONTINUING OPERATIONS 249 2,037
Tax expense or income related to profit or loss from continuing operations (36) 49
PROFIT (LOSS) AFTER TAX FROM CONTINUING OPERATIONS 213 2,086
Profit (loss) after tax from discontinued operations (2,396) 155
PROFIT(LOSS) FOR THE YEAR (2,182) 2,241
  • (*) Presented for comparison purposes only.

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STATEMENTS OF RECOGNIZED INCOME AND EXPENSE (Millions of Euros)

2020 2019 (*)
PROFIT RECOGNIZED IN INCOME STATEMENT (2,182) 2,241
OTHER RECOGNIZED INCOME (EXPENSE) (643) (373)
ITEMS NOT SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT (757) (367)
Actuarial gains (losses) from defined benefit pension plans 13 3
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 (786) (271)
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 4 (133)
Other valuation adjustments - -
Income tax related to items not subject to reclassification to income statement 12 34
ITEMS SUBJECT TO RECLASSIFICATION TO INCOME STATEMENT 114 (6)
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) 92 (115)
Valuation gains (losses) taken to equity 92 (115)
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 25 107
Valuation gains (losses) taken to equity 86 173
Transferred to profit or loss (61) (66)
Other reclassifications - -
Non-current assets and disposal groups held for sale - -
Income tax relating to items subject to reclassification to income statements (3) 2
TOTAL RECOGNIZED INCOME/EXPENSE (2,825) 1,868
  • (*) Presented for comparison purposes only.

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Statement of changes in equity for the year ended December 31, 2020 of BBVA, S.A.

STATEMENT OF CHANGES IN EQUITY (Millions of Euros)

2020 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, 2020 3,267 23,992 - 48 9,107 - 1 - 2,241 (1,086) (381) 37,189
Total income/expense recognized - - - - - - - - (2,182) - (643) (2,825)
Other changes in equity - - - (14) (248) - 30 (9) (2,241) 1,086 (101) (1,497)
Issuances of common shares - - - - - - - - - - - -
Issuances of preferred shares - - - - - - - - - - - -
Issuance of other equity instruments - - - - - - - - - - - -
Settlement or maturity of other equity instruments issued - - - - - - - - - - - -
Conversion of debt on equity - - - - - - - - - - - -
Common Stock reduction - - - - - - - - - - - -
Dividend distribution - - - - (1,067) - - - - - - (1,067)
Purchase of treasury shares - - - - - - - (688) - - - (688)
Sale or cancellation of treasury shares - - - - - - (5) 679 - - - 674
Reclassification of other equity instruments to financial liabilities - - - - - - - - - - - -
Reclassification of financial liabilities to other equity instruments - - - - - - - - - - - -
Transfers within total equity - - - (2) 1,206 - 51 - (2,241) 1,086 (100) -
Increase/Reduction of equity due to business combinations - - - - - - - - - - - -
Share based payments - - - - - - - - - - - -
Other increases or (-) decreases in equity - - - (12) (387) - (16) - - - - (415)
Balances as of December 31, 2020 3,267 23,992 - 34 8,859 - 31 (9) (2,182) - (1,124) 32,867

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

STATEMENT OF CHANGES IN EQUITY (Millions of Euros)

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 - - - - - - - - - - - -
Settlement or maturity of other equity instruments issued - - - - - - - - - - - -
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 other equity instruments to financial liabilities - - - - - - - - - - - -
Reclassification of financial liabilities to other equity instruments - - - - - - - - - - - -
Transfers within total equity - - - (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
  • (*) Presented for comparison purposes only.

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CASH FLOWS STATEMENTS (Millions of Euros)

2020 2019 (*)
A) CASH FLOWS FROM OPERATING ACTIVITIES (1+2+3+4+5) 25,890 (10,032)
1.Profit (loss) for the year (2,182) 2,241
2.Adjustments to obtain the cash flow from operating activities: 3,320 1,755
Depreciation and amortization 663 673
Other adjustments 2,657 1,082
3.Net increase/decrease in operating assets (16,183) (19,739)
Financial assets held for trading (3,836) (9,751)
Non-trading financial assets mandatorily at fair value through profit or loss 447 871
Other financial assets designated at fair value through profit or loss - -
Financial assets at fair value through other comprehensive income (12,623) (5,632)
Financial assets at amortized cost (683) (6,514)
Other operating assets 512 1,287
4.Net increase/decrease in operating liabilities 40,338 5,802
Financial liabilities held for trading (3,848) 6,242
Other financial liabilities designated at fair value through profit or loss 298 1,222
Financial liabilities at amortized cost 45,202 (968)
Other operating liabilities (1,314) (693)
5.Collection/Payments for income tax 598 (92)
B) CASH FLOWS FROM INVESTING ACTIVITIES (1+2) (125) (102)
1.Investment (430) (633)
Tangible assets (96) (119)
Intangible assets (251) (317)
Investments in subsidiaries, joint ventures and associates (84) (196)
Other business units - -
Non-current assets classified as held for sale and associated liabilities - -
Other collections related to investing activities - -
2.Divestments 306 531
Tangible assets 29 10
Intangible assets - -
Investments in subsidiaries, joint ventures and associates 70 103
Other business units - -
Non-current assets and disposal groups classified as held for sale and associated liabilities 206 418
Other collections related to investing activities - -
C) CASH FLOWS FROM FINANCING ACTIVITIES (1 + 2) (662) (2,314)
1. Payments (3,686) (6,114)
Dividends (1,067) (2,153)
Subordinated liabilities (1,937) (3,005)
Treasury stock amortization - -
Treasury stock acquisition (682) (956)
Other items relating to financing activities - -
2. Collections 3,024 3,799
Subordinated liabilities 2,334 2,640
Common stock increase - -
Treasury stock disposal 674 993
Other items relating to financing activities 17 167
D) EFFECT OF EXCHANGE RATE CHANGES 584 (54)
E) NET INCREASE/DECREASE IN CASH OR CASH EQUIVALENTS (A+B+C+D) 25,688 (12,503)
F) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 18,419 30,922
G) CASH AND CASH EQUIVALENTS AT END OF THE YEAR (E+F) 44,107 18,419

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

2020 2019 (*)
Cash 972 1,046
Balance of cash equivalent in central banks 40,485 15,417
Other financial assets 2,650 1,956
Less: Bank overdraft refundable on demand - -
TOTAL CASH AND CASH EQUIVALENTS AT END OF THE YEAR 44,107 18,419
  • (*) Presented for comparison purposes only.

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This Appendix is an integral part of Notes 2.1 of the consolidated financial statements for the year ended December 31, 2020.

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 advances” 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, 2020 and 2019 is shown below.

b.1) Ongoing operations

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

2020 2019
Nominal value of outstanding loans and mortgage loans 88,753 92,757
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. (27,549) (30,173)
Nominal value of outstanding loans and mortgage loans, excluding securitized loans 61,204 62,584
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. 44,854 44,759
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. (1,169) (1,191)
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 43,685 43,568
Issuance limit: 80% of eligible loans and mortgage loans that can be used as collateral 34,948 34,854
Issued Mortgage-covered bonds 32,069 32,422
Outstanding Mortgage-covered bonds 12,559 14,832
Capacity to issue mortgage-covered bonds 2,879 2,432
Memorandum items: - -
Percentage of overcollateralization across the portfolio 191% 193%
Percentage of overcollateralization across the eligible used portfolio 136% 134%
Nominal value of available sums (committed and unused) from all loans and mortgage loans. 5,549 5,841
Of which: Potentially eligible 4,885 4,935
Of which: Ineligible 664 906
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. 9,006 9,989
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)

2020 2019
Total loans (1) 88,753 92,757
Issued mortgage participations (2) 4,114 4,494
Of which: recognized on the balance sheet 2,928 3,213
Issued mortgage transfer certificates (3) 23,435 25,679
Of which: recognized on the balance sheet 21,098 22,899
Mortgage loans as collateral of mortgages bonds (4) - -
Loans supporting the issuance of mortgage-covered bonds 1-2-3-4 61,204 62,584
Non eligible loans 16,350 17,825
Comply requirements to be eligible except the limit provided for under the article 5.1 of the Spanish Royal Decree 716/2009 9,006 9,989
Other 7,344 7,836
Eligible loans 44,854 44,759
That can not be used as collateral for issuances 1,169 1,191
That can be used as collateral for issuances 43,685 43,568
Loans used to collateralize mortgage bonds - -
Loans used to collateralize mortgage-covered bonds 43,685 43,568

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

2020 2019
Total mortgage
loans		 Eligible
Loans(*)		 Eligibles that
can be used as
collateral for
issuances (**)		 Total mortgage
loans		 Eligible
Loans(*)		 Eligibles that can
be used as
collateral for
issuances (**)
TOTAL 61,204 44,854 43,685 62,584 44,759 43,568
By source of the operations - - -
Originated by the bank 56,593 40,975 39,846 57,541 40,462 39,316
Subrogated by other institutions 763 589 584 838 650 644
Rest 3,848 3,290 3,255 4,205 3,647 3,608
By Currency - - -
In Euros 61,033 44,742 43,573 62,263 44,564 43,373
In foreign currency 171 112 112 321 195 195
By payment situation - - -
Normal payment 54,197 42,245 41,388 53,983 41,331 40,608
Other situations 7,007 2,609 2,297 8,601 3,428 2,960
By residual maturity - - -
Up to 10 years 13,031 10,037 9,759 13,788 10,376 10,071
10 to 20 years 25,898 22,116 21,359 26,923 22,521 21,836
20 to 30 years 18,713 11,718 11,613 17,528 10,562 10,398
Over 30 years 3,562 983 954 4,345 1,300 1,263
By Interest rate - - -
Fixed rate 13,412 9,318 9,260 11,408 6,768 6,720
Floating rate 47,792 35,536 34,425 51,176 37,991 36,848
Mixed rate - - - - - -
By target of operations - - -
For business activity 10,699 6,598 5,681 11,709 6,825 5,918
Of which: public housing 2,215 1,555 757 2,333 1,529 743
Of which: For households 50,505 38,256 38,004 50,875 37,934 37,650
By type of guarantee - - -
Secured by completed assets/buildings 59,190 43,696 42,868 60,638 43,823 42,920
Residential use 52,145 39,454 38,781 52,831 39,329 38,594
Of which: public housing 3,791 3,078 2,942 4,039 3,238 3,094
Commercial 7,015 4,233 4,078 7,779 4,484 4,316
Other 30 9 9 28 10 10
Secured by assets/buildings under construction 1,303 942 660 1,103 671 446
Residential use 1,004 734 453 862 560 335
Of which: public housing 1 - - 5 1 1
Commercial 299 208 207 241 111 111
Other - - - - - -
Secured by land 711 216 157 843 265 202
Urban 275 88 34 321 98 43
Non-urban 436 128 123 522 167 159
  • (*) 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 2020. 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 13,665 14,339 12,211 - 40,215
Other mortgages 2,351 2,288 4,639
Total 16,016 16,627 12,211 - 44,854

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

2020 2019
Eligible (*) Non eligible Eligible (*) Non eligible
Balance at the beginning 44,759 17,825 45,664 22,074
Retirements 6,429 4,535 7,447 8,498
Held-to-maturity cancellations 3,918 736 4,363 1,062
Anticipated cancellations 1,913 930 2,231 2,054
Subrogations to other institutions 48 19 22 10
Rest 550 2,850 831 5,372
Additions 6,524 3,060 6,542 4,249
Originated by the bank 3,740 2,396 3,219 3,235
Subrogations to other institutions 3 1 4 2
Rest 2,781 664 3,319 1,012
Balance at the end 44,854 16,350 44,759 17,825
  • (*) 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)

2020 2019
Potentially eligible 4,885 4,935
Ineligible 664 906
Total 5,549 5,841

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b.2) Liabilities operations

Issued mortgage bonds (Millions of Euros)

2020 2019
Nominal value Average
residual
maturity		 Nominal value Average
residual
maturity
Mortgage bonds -- -
Mortgage-covered bonds 32,069 32,422
Of which: non recognized as liabilities on balance 19,510 17,590
Of Which: outstanding 12,559 14,832
Debt securities issued through public offer 10,450 12,501
Residual maturity up to 1 year 2,750 2,051
Residual maturity over 1 year and less than 2 years 1,250 2,750
Residual maturity over 2 years and less than 3 years 2,250 1,250
Residual maturity over 3 years and less than 5 years 3,000 3,250
Residual maturity over 5 years and less than 10 years 1,000 3,000
Residual maturity over 10 years 200 200
Debt securities issued without public offer 19,605 17,662
Residual maturity up to 1 year 1,500 50
Residual maturity over 1 year and less than 2 years 2,000 1,500
Residual maturity over 2 years and less than 3 years 9,000 2,000
Residual maturity over 3 years and less than 5 years 4,000 9,000
Residual maturity over 5 years and less than 10 years 3,105 5,112
Residual maturity over 10 years - -
Deposits 2,014 2,260
Residual maturity up to 1 year 425 246
Residual maturity over 1 year and less than 2 years 368 425
Residual maturity over 2 years and less than 3 years 100 368
Residual maturity over 3 years and less than 5 years 371 100
Residual maturity over 5 years and less than 10 years 100 471
Residual maturity over 10 years 650 650
Mortgage participations 2,928 257 3,213 267
Issued through public offer 2,928 257 3,213 267
Issued without public offer - - - -
Mortgage transfer certificates 21,098 257 22,899 267
Issued through public offer 21,098 257 22,899 267
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, 2020 and 2019:

c.1) Assets operations

Principal outstanding payment of loans (Millions of Euros)

Nominal value 2020 Nominal value 2019
Eligible loans according to article 34.6 and 7 of the Law 14/2013 3,284 3,621
Minos: Loans that support the issuance of internationalization bonds - -
Minos: NPL to be deducted in the calculation of the issuance limit, according to Article 13 del Royal Decree 579/2014 8 1
Total Loans included in the base of all issuance limit 3,276 3,620

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c.2) Liabilities operations

Internationalization covered bonds (Millions of Euros)

Nominal value 2020 Nominal value 2019
(1) Debt securities issued through public offer (a) 1,500 1,500
Of which: Treasury shares 1,500 1,500
Residual maturity up to 1 year - -
Residual maturity over 1 year and less than 2 years 1,500 -
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 securities 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 ) 46% 41%
  • (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 2020. Loans that serves as collateral for the territorial bonds

Nominal Value(a)
Total Spanish Residents Residents in other countries of
the European Economic Area
Central governments 1,505 1,396 109
Regional governments 7,633 7,605 28
Local governments 3,665 3,665 -
Total loans 12,803 12,666 137
  • (a) Principal pending payment of loans.

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December 2019. Loans that serves as collateral for the territorial bonds

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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d.2) Liabilities operations

Territorial bonds (Millions of Euros)

Nominal value 2020 Nominal value 2019
Territorial bonds issued (a) 6,540 8,040
Issued through a public offering 6,540 8,040
Of which: Treasury stock 6,040 7,540
Residual maturity up to 1 year 2,000 4,500
Residual maturity over 1 year and less than 2 years 840 2,000
Residual maturity over 2 years and less than 3 years 200 840
Residual maturity over 3 years and less than 5 years 3,500 700
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 Percentage
Coverage ratio of the territorial bonds on loans (b) 51% 60%
  • (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 consolidated financial statements for the year ended December 31, 2020.

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, 2020, 2019 and 2018 is as follows:

DECEMBER 2020 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 67 77 69 62 45 - 15
Other financial corporations and individual entrepreneurs (financial business) 519 10 22 2 2 - 4
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 111,648 5,592 11,343 3,182 1,911 33 3,128
Of which: financing the construction and property (including land) 624 500 1,081 622 370 8 420
Other households (*) 261,097 1,782 86,643 5,992 4,379 27 1,712
Total 373,331 7,460 98,077 9,239 6,337 60 4,859
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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 39 36 29 20 14 - 12
Other financial corporations and individual entrepreneurs (financial business) 283 5 11 1 1 - 3
Non-financial corporations and individual entrepreneurs (corporate non-financial activities) 67,588 3,470 6,880 1,939 916 21 2,727
Of which: financing the construction and property (including land) 469 216 674 408 197 8 311
Other households (*) 113,013 765 37,063 2,805 1,820 8 1,358
Total 180,923 4,274 43,983 4,765 2,750 30 4,100
  • (*) 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.
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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
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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 2,096 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.
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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
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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 46 65 12 16 8 - 10
Other financial corporations and individual entrepreneurs (financial business) 133 4 29,320 4 2 - 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.
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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, 2020, 2019 and 2018:

Forbearance operations. Breakdown by segments (Millions of Euros)

December 2020 December 2019 December 2018
Credit institutions - - -
Central governments 124 147 160
Other financial corporations and individual entrepreneurs (financial activity) 8 6 13
Non-financial corporations and individual entrepreneurs (non-financial activity) 5,645 5,479 5,512
Of which: Financing the construction and property development (including land) 701 660 702
Households 6,062 5,818 6,600
Total carrying amount 11,840 11,450 12,284
Financing classified as non-current assets and disposal groups held for sale 858 42 -

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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, 2020 and December 31, 2019, the non-performing ratio for each of the portfolios of renegotiated loans is as follows:

December 2020. NPL ratio renegotiated loan portfolio

Ratio of impaired loans - past due
General governments 40%
Commercial 62%
Of which: Construction and developer 56%
Other consumer 46%

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

Loans and advances to customers by activity (carrying amount)

December 2020 (Millions of Euros)

Loans 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 19,718 372 1,451 390 546 135 714 39
Other financial institutions and individual entrepreneurs 17,662 200 9,596 166 1,585 2,610 5,146 289
Non-financial institutions and individual entrepreneurs 143,693 23,686 4,082 8,294 7,162 4,467 3,200 4,646
Construction and property development 4,379 3,244 82 1,048 1,015 678 263 321
Construction of civil works 6,810 641 279 274 194 97 48 306
Other purposes 132,504 19,801 3,721 6,972 5,953 3,691 2,888 4,019
Large companies 79,595 6,648 1,920 2,561 1,811 1,242 1,012 1,943
SMEs (**) and individual entrepreneurs 52,909 13,154 1,801 4,411 4,142 2,449 1,877 2,076
Rest of households and NPISHs (***) 137,870 92,555 1,836 19,606 24,126 27,130 15,463 8,066
Housing 94,098 90,756 131 18,743 23,719 26,817 13,960 7,648
Consumption 39,442 418 1,521 246 190 139 1,245 118
Other purposes 4,331 1,381 184 617 216 174 257 301
TOTAL 318,943 116,813 16,966 28,456 33,419 34,343 24,522 13,039
MEMORANDUM ITEM:
Forbearance operations (****) 11,840 7,271 74 1,350 1,408 1,587 1,165 1,834
  • (*) 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 2019 (Millions of Euros)

Loans 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 and individual entrepreneurs 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)

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

December 2020 (Millions of Euros)

TOTAL (*) Spain European Union Other America Other
Credit institutions 142,475 44,287 31,005 39,897 27,286
General governments 125,311 61,944 12,660 37,756 12,951
Central Administration 103,104 46,614 12,324 31,477 12,689
Other 22,207 15,330 336 6,279 262
Other financial institutions 48,434 14,727 11,773 15,640 6,294
Non-financial institutions and individual entrepreneurs 202,708 74,560 23,783 60,245 44,120
Construction and property development 8,182 3,384 202 1,899 2,697
Construction of civil works 10,385 5,275 1,349 1,183 2,578
Other purposes 184,141 65,901 22,232 57,163 38,845
Large companies 125,847 39,272 21,610 37,904 27,061
SMEs and individual entrepreneurs 58,294 26,629 622 19,259 11,784
Other households and NPISHs 138,544 88,633 2,882 36,690 10,339
Housing 94,098 73,383 1,747 16,262 2,706
Consumer 39,442 12,117 719 19,264 7,342
Other purposes 5,004 3,133 416 1,164 291
TOTAL 657,472 284,151 82,103 190,228 100,990
  • (*) 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 2019 (Millions of Euros)

TOTAL (*) Spain European Union Other America Other
Credit institutions 108,728 23,045 40,204 31,717 13,762
General governments 134,915 56,464 9,861 57,174 11,416
Central Administration 96,639 39,573 9,505 36,287 11,274
Other 38,276 16,891 356 20,887 142
Other financial institutions 52,281 13,822 19,763 15,736 2,960
Non-financial institutions and individual entrepreneurs 231,964 70,753 25,932 92,178 43,101
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 202,442 61,812 24,268 79,059 37,303
Large companies 147,573 37,393 23,279 61,838 25,063
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 695,267 254,913 98,940 258,903 82,511
  • (*) 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 113,306 35,719 33,355 31,085 13,147
General governments 123,340 53,664 11,061 50,092 8,523
Central Administration 87,610 35,691 10,756 32,735 8,428
Other 35,730 17,973 305 17,357 95
Other financial institutions 48,931 13,776 17,887 15,335 1,933
Non-financial institutions and individual entrepreneurs 226,422 70,523 24,534 87,417 43,948
Construction and property development 17,697 3,497 244 10,113 3,843
Construction of civil works 11,429 5,789 1,535 1,762 2,343
Other purposes 197,296 61,237 22,755 75,542 37,762
Large companies 137,086 36,951 22,083 53,422 24,630
SMEs and individual entrepreneurs 60,210 24,286 672 22,120 13,132
Other households and NPISHs 163,442 91,976 3,383 56,777 11,306
Housing 111,007 78,414 765 28,034 3,794
Consumer 40,123 10,303 629 22,036 7,155
Other purposes 12,312 3,259 1,989 6,707 357
TOTAL 675,441 265,658 90,220 240,706 78,857
  • (*) 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 7.2.7 of the consolidated financial statements for the year ended December 31, 2020.

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, 2020, 2019 and 2018 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 2020 December 2019 December 2018
Spain 60,916 55,575 52,970
Italy 10,270 7,810 9,249
Turkey 7,578 7,999 7,998
Portugal 1,067 924 529
Germany 342 224 362
France 108 93 122
Netherlands - 1 9
Romania 459 480 493
Rest of Europe 244 185 248
Subtotal Europe 80,984 73,291 71,981
Mexico 31,237 32,630 26,562
The United States 14,217 19,802 18,645
Colombia 1,466 1,828 2,577
Argentina 1,539 1,557 628
Peru 706 582 750
Venezuela 21 7 1
Rest of countries 5,559 3,726 955
Subtotal rest of countries 54,746 60,131 50,118
Total exposure to financial instruments 135,729 133,421 122,099

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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, 2020 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 2020 (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 33,689 12,712 419 19 (10) (1,030) 37 (21) 45,814 41%
Italy 7,612 112 - - - (1,550) 15 (32) 6,155 6%
Portugal (230) 130 - - (53) 211 3 (2) 59 0%
Germany 159 - - - - 295 3 (1) 456 0%
France (747) 26 - - - 773 6 (3) 55 0%
Netherlands - - - - - - - - - 0%
Romania 459 - - - - - - - 459 0%
Rest of European Union (573) 35 285 1 (5) 197 4 (1) (57) 0%
Total Exposure to Sovereign Counterparties (European Union) 40,369 13,014 704 20 (68) (1,105) 67 (59) 52,942 48%
Mexico 19,215 4,671 2,798 3 (148) (3) - - 26,535 24%
The United States 14,133 - 25 2 - - 42 (42) 14,161 13%
Turkey 7,366 181 - - - - - - 7,547 7%
Rest of other countries 6,974 2,161 - 11 - 416 40 (4) 9,597 9%
Total other countries 47,688 7,012 2,823 16 (148) 413 82 (46) 57,840 52%
Total 88,057 20,026 3,527 36 (216) (693) 149 (104) 110,782 100%

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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 (€10,917 million as of December 31, 2020) is not included. Includes credit derivatives CDS (Credit Default Swaps) shown at fair value.

This Annex forms an integral part of Note 7.2.8 of the consolidated Annual Accounts for the year 2020.

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

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

Lending for real estate development of the loans as of December 31, 2020, 2019 and 2018 is shown below:

December 2020. 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) 2,565 650 (281)
Of which: Impaired assets 473 213 (230)
Memorandum item:
Write-offs 2,288
Memorandum item:
Total loans and advances to customers, excluding the General Governments (Business in Spain) (book value) 162,600
Total consolidated assets (total business) (book value) 736,176
Impairment and provisions for normal exposures (4,909)

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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) 697,737
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) 675,675
Impairment and provisions for normal exposures (4,938)

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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)

2020 2019 2018
Without secured loan 372 298 324
With secured loan 2,193 2,351 2,859
Terminated buildings 1,307 1,461 1,861
Homes 991 1,088 1,382
Other 316 373 479
Buildings under construction 614 545 432
Homes 430 348 408
Other 184 197 24
Land 272 345 566
Urbanized land 143 240 364
Rest of land 129 105 202
Total 2,565 2,649 3,183

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As of December 31, 2020, 2019 and 2018, 51.0% 55.2% and 58.5%, of loans to developers were guaranteed with buildings (75.8%, 74.5% and 74.3% are homes), and only 10.6%, 13.0%, and 17.8% by land, of which 52.6% 69.6%, and 64.3% are in urban locations, respectively.

The table below provides the breakdown of the financial guarantees given as of December 31, December 31, 2020, 2019 and 2018:

Financial guarantees given (Millions of Euros)

2020 2019 2018
Houses purchase loans 58 44 48
Without mortgage 5 5 24

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The information on the retail mortgage portfolio risk (housing mortgage) as of December 31, 2020, 2019 and 2018 is as follows:

December 2020. 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 74,689 2,841
Without mortgage 1,693 20
With mortgage 72,996 2,821

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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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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 2020 15,197 18,891 20,716 10,624 7,568 72,996
Of which: Impaired loans 170 294 426 470 1,461 2,821
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

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Outstanding home mortgage loans as of December 31, 2020, 2019 and 2018 had an average LTV of 46% 47% and 49% 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 2020
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. 913 (486) (234) 427
Terminated buildings 363 (144) (60) 219
Homes 212 (75) (33) 137
Other 151 (69) (27) 82
Buildings under construction 30 (21) (10) 9
Homes 29 (20) (10) 9
Other 1 (1) - -
Land 520 (321) (164) 199
Urbanized land 485 (303) (150) 182
Rest of land 35 (18) (14) 17
Real estate assets from mortgage financing for households for the purchase of a home 1,128 (593) (163) 535
Rest of foreclosed real estate assets 481 (259) (48) 222
Equity instruments, investments and financing to non-consolidated companies holding said assets 1,310 (450) (412) 860
Total 3,832 (1,788) (857) 2,044

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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
Finished 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
Foreclosed equity instruments 1,345 (234) (234) 1,111
Total 5,655 (2,610) (1,433) 3,045

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Additionally, in December 2018, 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.

As of December 31, 2020, 2019 and 2018, the gross book value of the Group’s real-estate assets from corporate financing of real-estate construction and development was €913, €1,048 and €2,165 million, respectively, with an average coverage ratio of 53.2%, 53.0%, and 57.8% respectively.

The gross book value of real-estate assets from mortgage lending to households for home purchase as of December 31, 2020, 2019 and 2018, amounted to €1,128, €1,192 and €1,797 million, respectively, with an average coverage ratio of 52.6%, 51.3%, and 51.9%.

As of December 31, 2020, 2019 and 2018, 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 €2,522, €2,691 and €4,310 million, respectively. The coverage ratio was 53.1%, 52.0% and 55.1%, respectively.

This Appendix is an integral part of Note 7 of the consolidated financial statements for the year ended December 31, 2020.

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, 2020, 2019 and 2018 it does not take into account loss allowances or loan-loss provisions:

Risks by geographical areas. December 2020 (Millions of Euros)

Spain Europe, Excluding
Spain		 Mexico The United States Turkey South America Other Total
Derivatives 8,419 17,811 2,292 8,350 349 2,162 800 40,183
Equity instruments (*) 2,196 9,627 3,197 925 65 260 420 16,690
Debt securities 56,552 18,932 29,392 5,097 7,466 5,907 6,287 129,632
Central banks - - - - - 2,535 100 2,635
General governments 48,765 12,320 26,567 2,412 7,449 2,547 4,641 104,701
Credit institutions 1,680 2,383 1,542 214 14 205 681 6,718
Other financial corporations 5,466 1,804 404 897 2 439 163 9,175
Non-financial corporations 641 2,426 879 1,574 0 180 702 6,402
Loans and advances 168,849 53,038 57,787 8,335 40,373 39,081 9,996 377,459
Central banks 1,301 37 235 204 3,408 1,060 37 6,282
General governments 12,712 328 4,671 - 181 1,401 732 20,026
Credit institutions 644 25,273 2,888 1,477 217 830 3,794 35,122
Other financial corporations 3,742 11,024 2,489 946 1,165 756 723 20,845
Non-financial corporations 55,314 13,078 22,878 5,670 23,963 18,215 4,573 143,691
Households 95,136 3,298 24,626 38 11,439 16,819 137 151,493
Total Risk in Financial Assets 236,016 99,408 92,667 22,706 48,253 47,410 17,503 563,964
Loan commitments given 35,096 32,327 15,748 33,644 7,691 6,530 1,548 132,584
Financial guarantees given 850 3,302 24 714 4,415 1,013 348 10,665
Other Commitments given 15,474 8,224 1,618 1,922 3,403 2,883 2,666 36,190
Off-balance sheet exposures 51,419 43,853 17,391 36,280 15,508 10,425 4,563 179,440
Total Risks in Financial Instruments 287,436 143,261 110,058 58,986 63,761 57,836 22,065 743,404
  • (*) Equity instruments are shown net of valuation adjustment.

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

Spain Europe, Excluding
Spain		 Mexico The United
States		 Turkey South America Other Total
Derivatives 5,241 16,603 1,328 6,354 189 1,788 729 32,232
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 52,027 63,505 65,044 45,874 40,787 9,264 448,166
Central banks 14 - - - 3,647 684 475 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 229,460 88,097 96,715 90,442 54,052 48,226 14,450 621,440
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 281,992 125,514 116,266 128,456 70,952 60,005 19,372 802,556
  • (*) 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 3,927 15,277 1,473 6,993 161 1,142 549 29,522
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 294 112 - - 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 228,009 76,888 82,314 87,316 53,523 46,635 9,157 583,844
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 279,828 109,808 98,877 122,366 70,566 58,995 13,913 754,355
  • (*) 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 advances”, impaired by geographical area as December 31, 2020, 2019 and 2018 is as follows:

Impaired financial assets by geographic area (Millions of Euros)

2020 2019 2018
Spain 8,199 8,616 10,025
Rest of Europe 118 175 225
Mexico 1,767 1,478 1,138
South America 1,703 1,769 1,715
The United States (*) - 632 733
Turkey 2,889 3,289 2,520
Rest of the world 2 2 2
IMPAIRED RISKS 14,678 15,959 16,359
  • (*) the balance corresponds to the stake in BBVA USA (see Notes 3 and 21)

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This Appendix is an integral part of Note 7.2.8 of the consolidated financial statements for the year ended December 31, 2020.

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

Country CIT
payments
cash basis		 CIT expense
consol		 PBT consol Gross
income		 Nº
Employees
(*)		 Activity Main Entity
Mexico 1,250 721 2,491 6,798 36,853 Finance, banking and insurance services BBVA Bancomer S.A.
Spain (1)(2) (699) (7) (2,108) 5,732 29,330 Finance, banking and insurance services BBVA S.A.
Turkey 348 362 1,394 3,298 20,357 Finance, banking and insurance services Garanti BBVA AS
United States 118 85 551 3,165 10,883 Finance and banking services BBVA USA
Peru 156 91 325 1,149 6,204 Finance and banking services BBVA Perú
Colombia 104 77 249 911 6,592 Finance, banking and insurance services BBVA Colombia S.A.
Argentina 137 81 205 732 6,052 Finance, banking and insurance services Banco BBVA Argentina S.A.
Uruguay 12 8 37 146 590 Finance and banking services BBVA Uruguay S.A.
Chile 19 8 32 132 696 Financial services Forum Servicios Financieros, S.A.
Romania 8 4 27 103 1,199 Finance and banking services GBR Garanti Bank SA
Portugal 5 14 42 100 447 Finance and banking services BBVA - Portugal Branch Office
Italy 8 20 65 77 51 Banking services BBVA -Milan Branch Office
United Kingdom 5 3 40 76 118 Banking services BBVA -London Branch Office
Paraguay 3 3 26 68 430 Finance and banking services BBVA Paraguay S.A.
France 13 3 14 64 68 Banking services BBVA -Paris Branch Office
Malta 8 4 66 83 13 Banking services Garanti –Valletta Brach Office
The Netherlands 7 7 23 59 236 Finance and banking services Garantibank BBVA International N.V.
Hong Kong 8 5 31 55 80 Banking services BBVA -Hong-Kong Branch Office
Venezuela - 7 8 44 1,996 Finance, banking and insurance services BBVA Banco Provincial S.A.
Switzerland 9 3 11 42 113 Finance and banking services BBVA (Switzerland) S.A.
Germany 26 8 24 40 43 Banking services BBVA -Frankfurt Branch Office
Bolivia 3 3 12 28 476 Pensions BBVA Previsión AFP SA
Singapore 1 2 11 14 10 Banking services BBVA -Singapore Branch Office
Cyprus 7 4 16 28 103 Banking services Garanti - Nicosia Branch Office
Belgium - - 4 7 22 Banking services BBVA -Brussels Branch Office
Curaçao - - 2 5 16 Finance and banking services Banco Provincial Overseas N.V.
Taiwan - - 1 5 11 Banking services BBVA -Taipei Branch Office
Brazil - - 2 4 6 Financial services BBVA Brasil Banco de Investimento, S.A.
China - - 1 4 26 Banking services BBVA -Shanghai Branch Office
Finland - - (26) 3 125 Financial services Holvi Payment Service OY
Japan - - - 1 3 Banking services BBVA -Tokyo Branch Office
Ireland - - - - - Financial services BBVA Ireland PCL
Total 1,556 1,516 3,576 22,973 123,149
  • (1) The balance of "Profit before tax", "Corporate tax expense" and "Gross Margin" includes €413, €57 and €2,807 million respectively from the banking business in the United States classified under the heading "Profit (loss) after taxes from discontinued operations”
  • (2) The balance of "Profit (loss) before taxes" includes in Spain the impairment of Goodwill in the United States for €2,084 million, which in the income statement is classified under the heading of "Profit (loss) after taxes from discontinued operations".
  • (*) 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 which they depend.

As of December 31, 2020, the return of the Group’s assets calculated by dividing the “Profit” between “Total Assets” is 0.28%.

In 2020 (*), 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/EU 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.

Translation of the Consolidated Financial Statements originally issued in Spanish and prepared in accordance with EU-IFRS, as adopted by the European Union (see Notes 1 to 56). In the event of a discrepancy, the Spanish-language version prevails.