Total customer funds amounted to €449 billion as of 30-Sep-2012, a year-on-year increase of 7.0% (up 4.8% since 30-Jun-2012).

With respect to on-balance-sheet customer funds, BBVA managed a volume of customer deposits, excluding promissory notes, of €289 billion as of 30-Sep-2012, up 2.4% since September 2011 and 5.3% on 30-Jun-2012. As can be seen in the accompanying table showing customer funds, there has been a significant growth over the quarter in the domestic sector as a result of the incorporation of Unnim and the growth in customer funds (including promissory notes) over the quarter. In the non-domestic sector, volumes have been maintained at very similar levels to the close of June 2012. The fall in deposits linked to wholesale customers has thus been offset by the positive trend in balances from the retail segment in practically all the geographical areas, as shown on the following sections dedicated to each of the Group’s business areas.

All in all, BBVA maintains intact its high capacity to gather deposits and the capillarity of its commercial network, as retail deposits (including promissory notes) grew in both the domestic and non-domestic sectors.

Off-balance-sheet customer funds closed September at €160 billion, up 16.7% year-on-year and 4.0% quarter-on-quarter. In contrast with other quarters, there was a slight year-on-year increase in Spain, due to the positive performance of pension funds and customer portfolios. BBVA is the biggest pension fund manager in Spain and the only one of the top five to increase its market share between June 2011 and June 2012. As of 30-Jun-2012, its market share was 19.1%, 81 basis points higher than the figure for the previous year.

In the non-domestic sector, assets under management in mutual funds and pensions funds, as well as customer portfolios, have continued to grow.

Customer funds

(Million euros)

	30-09-12	Δ %	30-09-11	30-06-12	31-12-11
Deposits from customers	288,709	2.4	282,050	274,285	282,173
Domestic sector	142,561	(2.5)	146,284	127,356	136,519
Public sector	27,800	(9.4)	30,672	21,448	28,302
Other domestic sectors	114,761	(0.7)	115,612	105,908	108,217
Current and savings accounts	47,188	11.8	42,215	46,190	44,215
Time deposits	57,236	11.8	51,182	48,278	49,105
Assets sold under repurchase agreement and other	10,337	(53.5)	22,215	11,440	14,897
Non-domestic sector	146,148	7.6	135,766	146,929	145,655
Current and savings accounts	91,413	17.0	78,127	91,706	85,204
Time deposits	50,016	(9.0)	54,958	50,021	53,399
Assets sold under repurchase agreement and other	4,719	76.0	2,681	5,203	7,051
Other customer funds	160,113	16.7	137,252	153,889	144,291
Mutual funds	41,404	6.5	38,874	40,807	39,294
Pension funds	91,081	22.9	74,118	86,761	78,648
Customer portfolios	27,629	13.9	24,261	26,322	26,349
Total customer funds	448,823	7.0	419,302	428,175	426,464

Customer funds

(Billion euros)

(1) At constant exchange rates: –1.9%.

On-balance sheet customer funds. Other domestic sectors ⁽¹⁾

(Billion euros)

(1) Including promissory notes sold by the retail network and excluding repos and other.