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Concentration

Not including sovereign risks and financial institutions, there are 138 holding groups banking with the BBVA Group (126 in 2009), with risk drawn (loans, contingent liabilities, credit derivatives and fixed-income issues) exceeding €200 million, of which 78% hold investment grade rating. Credit risk (contingent liabilities) accounted for 20% of the BBVA Group’s total risk (19% in 2008). This risk can be broken down by business area as follows: 36% in Spain and Portugal, 52% in WB&AM and 11% in the Americas (7% in Mexico). The risk was spread between the main sectors of activity, with the most important being: institutions 24.6%, utilities 15.9%, construction and infrastructure 15.8%, energy 8.8% and telecommunications 7.3%, as shown in Chart 27.

27: Concentration. Distribution by sector in BBVA Group

(Risks above €200 million. 31-12-2010)

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