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1. The BBVA Group. Highlights

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Banco Bilbao Vizcaya Argentaria, S.A. (the “Bank” or “BBVA”) is a private-law entity governed by the rules and regulations applicable to banks operating in Spain and is the parent company of the financial group whose object is to engage directly or indirectly in activities, transactions, agreements and services relating to the banking business. The Bank conducts its business through branches and offices located throughout Spain and abroad.

The Banco Bilbao Vizcaya Argentaria Group (the “Group” or “BBVA Group”) is an internationally diversified financial group with a significant presence in traditional retail banking, asset management, private banking and wholesale banking.

The financial information included in this management report is presented in accordance with the criteria established by the International Financial Reporting Standards endorsed by the European Union (EU-IFRS) approved by the European Union and taking into account Bank of Spain Circular 4/2004, and its subsequent amendments.

The most relevant data and ratios of the BBVA Group as of December 31, 2011 and 2010 are as follows:

BBVA Group Highlights Millions of Euros
2011 2010 % Change
2011-2010
Balance sheet (million euros)


Total assets 597,688 552,738 8.1
Total lending (gross) 361,310 348,253 3.7
Customer deposits 282,173 275,789 2.3
Other customer funds 144,291 146,188 (1.3)
Total customer funds 426,464 421,977 1.1
Total equity 40,058 37,475 6.9
Stockholder's funds 40,952 36,689 11.6
Income statement


Net interest income 13,160 13,320 (1.2)
Gross income 20,566 20,910 (1.6)
Operating income 10,615 11,942 (11.1)
Income before tax 3,770 6,422 (41.3)
Net attributable profit 3,004 4,606 (34.8)
Data per share and share performance ratios


Share price (euros) 6.68 7.56 (11.6)
Market capitalization (million euros) 32,753 33,951 (3.5)
Net attributable profit per share (euros) (1) 0.64 1.14 (44.1)
Book value per share (euros) 8.35 8.17 2.2
P/BV (Price/book value; times) 0.8 0.9 (13.5)
PER (Price/earnings; times) 10.9 7.4 47.9
Dividend yield (Dividend/Price; %) 6.3 5.6 12.3
Significant ratios


ROE (Net attributable profit/average equity) 8.0 15.8 (49.7)
ROA (Net income/average total assets) 0.61 0.89 (31.4)
RORWA (Net income/average risk-weighted assets) 1.08 1.64 (34.0)
Efficiency ratio 48.4 42.9 12.8
Risk premiun 1.20 1.33 (10.4)
NPA Ratio 4.0 4.1 (3.0)
NPA Coverage ratio 61 62 (0.8)
Capital adecuacy ratios


BIS Ratio 12.9 13.7 (5.7)
Core capital 10.3 9.6 7.2
Tier I 10.3 10.5 (2.1)
Other information


Number of shares (millions) 4,903 4,491 9.2
Number of shareholders 987,277 952,618 3.6
Number of employees (2) 110,645 106,976 3.4
Number of branches (2) 7,457 7,361 1.3
Number of ATMs (2) 18,794 17,055 10.2
(1) Earnings per share according to the Note 5 of the Consolidated Financial Statements (2) Garanti is not included
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