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Consolidated balance sheets

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Consolidated balance sheets as of December 31, 2011, 2010 and 2009

ASSETS Notes Millions of Euros
2011 2010 (*) 2009 (*)
CASH AND BALANCES WITH CENTRAL BANKS 9 30,939 19,981 16,344
FINANCIAL ASSETS HELD FOR TRADING 10 70,602 63,283 69,733
Loans and advances to credit institutions
- - -
Loans and advances to customers
- - -
Debt securities
20,975 24,358 34,672
Equity instruments
2,198 5,260 5,783
Trading derivatives
47,429 33,665 29,278
OTHER FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS 11 2,977 2,774 2,337
Loans and advances to credit institutions
- - -
Loans and advances to customers
- - -
Debt securities
708 688 639
Equity instruments
2,269 2,086 1,698
AVAILABLE-FOR-SALE FINANCIAL ASSETS 12 58,144 56,456 63,521
Debt securities
52,914 50,875 57,071
Equity instruments
5,230 5,581 6,450
LOANS AND RECEIVABLES 13 381,076 364,707 346,117
Loans and advances to credit institutions
26,107 23,637 22,239
Loans and advances to customers
351,900 338,857 323,442
Debt securities
3,069 2,213 436
HELD-TO-MATURITY INVESTMENTS 14 10,955 9,946 5,437
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK 15 146 40 -
HEDGING DERIVATIVES 15 4,552 3,563 3,595
NON-CURRENT ASSETS HELD FOR SALE 16 2,090 1,529 1,050
INVESTMENTS IN ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD 17 5,843 4,547 2,922
Associates
5,567 4,247 2,614
Jointly controlled entities
276 300 308
INSURANCE CONTRACTS LINKED TO PENSIONS
- - -
REINSURANCE ASSETS 18 26 28 29
TANGIBLE ASSETS 19 7,330 6,701 6,507
Property, plants and equipment
5,740 5,132 4,873
For own use
4,905 4,408 4,182
Other assets leased out under an operating lease
835 724 691
Investment properties
1,590 1,569 1,634
INTANGIBLE ASSETS 20 8,677 8,007 7,248
Goodwill
6,798 6,949 6,396
Other intangible assets
1,879 1,058 852
TAX ASSETS 21 7,841 6,649 6,273
Current
1,509 1,113 1,187
Deferred
6,332 5,536 5,086
OTHER ASSETS 22 6,490 4,527 3,952
Inventories
3,994 2,788 1,933
Rest
2,496 1,739 2,019
TOTAL ASSETS
597,688 552,738 535,065
(*) Presented for comparison purposes only

The accompanying Notes 1 to 59 and Appendices I to XII are an integral part of the consolidated balance sheet as of December 31, 2011.

LIABILITIES AND EQUITY Notes Millions of Euros 
2011 2010 (*) 2009 (*)
FINANCIAL LIABILITIES HELD FOR TRADING 10 51,303 37,212 32,830
Deposits from central banks
- - -
Deposits from credit institutions
- - -
Customer deposits
- - -
Debt certificates
- - -
Trading derivatives
46,692 33,166 29,000
Short positions
4,611 4,046 3,830
Other financial liabilities
- - -
OTHER FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS 11 1,825 1,607 1,367
Deposits from central banks
- - -
Deposits from credit institutions
- - -
Customer deposits
- - -
Debt certificates
- - -
Subordinated liabilities
- - -
Other financial liabilities
1,825 1,607 1,367
FINANCIAL LIABILITIES AT AMORTIZED COST 23 479,904 453,164 447,936
Deposits from central banks
33,147 11,010 21,166
Deposits from credit institutions
59,356 57,170 49,146
Customer deposits
282,173 275,789 254,183
Debt certificates
81,930 85,179 99,939
Subordinated liabilities
15,419 17,420 17,878
Other financial liabilities
7,879 6,596 5,624
FAIR VALUE CHANGES OF THE HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK 15 - (2) -
HEDGING DERIVATIVES 15 2,710 1,664 1,308
LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE 16 - - -
LIABILITIES UNDER INSURANCE CONTRACTS 24 7,737 8,034 7,186
PROVISIONS 25 7,561 8,322 8,559
Provisions for pensions and similar obligations 26 5,577 5,980 6,246
Provisions for taxes and other legal contingencies
350 304 299
Provisions for contingent risks and commitments
291 264 243
Other provisions
1,343 1,774 1,771
TAX LIABILITIES 21 2,330 2,195 2,208
Current
772 604 539
Deferred
1,558 1,591 1,669
OTHER LIABILITIES 22 4,260 3,067 2,908
TOTAL LIABILITIES
557,630 515,263 504,302
STOCKHOLDERS’ FUNDS
40,952 36,689 29,362
Common Stock 27 2,403 2,201 1,837
Issued
2,403 2,201 1,837
Unpaid and uncalled (-)
- - -
Share premium 28 18,970 17,104 12,453
Reserves 29 17,940 14,360 12,074
Accumulated reserves (losses)
17,580 14,305 11,765
Reserves (losses) of entities accounted for using the equity method
360 55 309
Other equity instruments
51 37 12
Equity component of compound financial instruments
- - -
Other equity instruments
51 37 12
Less: Treasury stock 30 (300) (552) (224)
Income attributed to the parent company
3,004 4,606 4,210
Less: Dividends and remuneration
(1,116) (1,067) (1,000)
VALUATION ADJUSTMENTS 31 (2,787) (770) (62)
Available-for-sale financial assets
(682) 333 1,951
Cash flow hedging
30 49 188
Hedging of net investment in foreign transactions
(158) (158) 219
Exchange differences
(1,937) (978) (2,236)
Non-current assets held-for-sale
- - -
Entities accounted for using the equity method
188 (16) (184)
Other valuation adjustments
(228) - -
NON-CONTROLLING INTEREST 32 1,893 1,556 1,463
Valuation adjustments
36 (86) 18
Rest
1,857 1,642 1,445
TOTAL EQUITY
40,058 37,475 30,763
TOTAL LIABILITIES AND EQUITY   597,688 552,738 535,065
MEMORANDUM ITEM Notes Millions of Euros
2011 2010 (*) 2009 (*)
CONTINGENT RISKS 34 39,904 36,441 33,185
CONTINGENT COMMITMENTS 34 93,766 90,574 92,323
(*) Presented for comparison purposes only

The accompanying Notes 1 to 59 and Appendices I to XII are an integral part of the consolidated balance sheet as of December 31, 2011.

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