The following tables present the average levels of interest rate risk in terms of the sensitivity of net interest income and economic value for the Group’s main financial institutions as of December 31, 2012:
(Million euros)
|
|
Impact on Net Interest Income (1) | |||||||
|---|---|---|---|---|---|---|---|---|
|
|
Increase of 100 basis points | Decrease of 100 basis points | ||||||
|
|
Euro | Dollar | Other | Total | Euro | Dollar | Other | Total |
| Europe | -2.66% | -0.10% | -0.00% | -2.76% | +2.73% | +0.14% | +0.00% | +2.88% |
| BBVA Bancomer | - | +0.73% | +1.93% | +2.65% | - | -0.73% | -1.93% | -2.65% |
| BBVA Compass | - | +6.26% | - | +6.26% | - | -7.50% | - | -7.50% |
| BBVA Chile | - | +0.16% | -3.32% | -3.16% | - | -0.17% | +3.32% | +3.15% |
| BBVA Colombia | - | +0.16% | +2.48% | +2.64% | - | -0.13% | -2.37% | -2.67% |
| BBVA Banco Continental | - | -0.31% | +1.85% | +1.54% | - | -1.86% | +0.33% | -1.53% |
| BBVA Banco Provincial | - | +0.21% | +1.71% | +1.92% | - | -1.57% | -0.21% | -1.78% |
| BBVA Banco Francés | - | -0.17% | +0.57% | +0.39% | - | +0.17% | -0.57% | -0.40% |
| BBVA GROUP | -0.71% | +0.94% | +0.98% | +1.21% | +0.73% | -1.39% | -0.63% | -1.31% |
(Million euros)
|
|
Impact on Net Interest Income (1) | |||||||
|---|---|---|---|---|---|---|---|---|
|
|
Increase of 100 basis points | Increase of 100 basis points | ||||||
|
|
Euro | Dollar | Other | Total | Euro | Dollar | Other | Total |
| Europe | +0.38% | +0.21% | +0.00% | +0.59% | -0.55% | -0.22% | -0.00% | -0.78% |
| BBVA Bancomer | - | +2.87% | -1.85% | +1.02% | - | -2.88% | +2.04% | -0.84% |
| BBVA Compass | - | +7.05% | - | +7.05% | - | -12.51% | - | -12.51% |
| BBVA Chile | - | +0.28% | -12.47% | -12.19% | - | -0.35% | +11.71% | +11.36% |
| BBVA Colombia | - | +0.08% | +0.51% | +0.59% | - | -0.08% | -1.03% | -1.11% |
| BBVA Banco Continental | - | -2.66% | -3.15% | -5.82% | - | +2.78% | +2.95% | +5.73% |
| BBVA Banco Provincial | - | -0.03% | +0.51% | +0.48% | - | +0.03% | -0.57% | -0.54% |
| BBVA Banco Francés | - | +0.04% | -0.82% | -0.78% | - | -0.05% | +0.80% | +0.75% |
| BBVA GROUP | +0.33% | +1.57% | -0.80% | +1.09% | -0.48% | -2.27% | +0.80% | -1.95% |
The negative/positive sensitivity to a rise/fall in interest rates in the euro zone is temporary and limited to the first quarters, as a result of liabilities gaining value quicker than assets (basically the mortgage portfolio).
However, the economic impact of this rise in interest rates on net interest income is positive, as once the mortgage portfolio is revalued, and given the weight of customer deposits, the customer spread increases.