January-December 2012


At the close of the year, gross customer lending in Mexico was up year-on-year by 8.6% to €38,937m.

The retail portfolio, which includes consumer finance, credit cards, residential mortgages and loans to small businesses, performed very well, with a balance of €20,481m, equivalent to an increase of 9.6% compared with the figure for the close of 2011. Outstanding within this portfolio was lending to small businesses, which increased 27.1% on the figure for 2011 to €1,895m. Consumer finance and credit cards rose by 13.3% to €9,675m. It is worth highlighting that over a million consumer loans were sold during the year, including payroll, auto and personal loans. Credit card lending has continued to perform well, with a year-on-year increase of 14.1%. Residential mortgages increased by 3.0% to €8,911m. Over 28,300 new mortgages were granted in 2012. The Bank has maintained its leadership in the private sector, signing one out of three of new mortgages granted by banks and Sofoles.

The wholesale portfolio, which includes loans to corporations, SMEs, financial institutions and the public sector, is up 7.4% year-on-year to €16,084m. There was a particularly good performance in lending to SMEs, which has grown year-on-year at double-digit rates throughout 2012, closing December at 12.2%. Loans to the public sector amounted to €3,590m, 3.2% higher than at the close of 2011. In the fourth quarter lending to corporates through CIB continued to increase. This is reflected in the bank’s active participation in corporate debt issues on capital markets, where BBVA has maintained its lead in Mexico, with a market share of 25.1% at the close of December 2012, according to Dealogic.

Customer funds, which include on-balance-sheet deposits, repos, mutual funds and other off-balance sheet funds, grew at an annual rate of 4.8% to €60,300m at the close of 2012. Demand deposits increased by 6.9%, with a notable performance by customer funds from the retail network, which increased by 7.3% compared with the close of 2011. BBVA continues to lead the demand deposit segment, with a third of the market, making it the favorite bank for savers in the country. Throughout the year, the BBVA Group in Mexico has maintained its strategy of ensuring a profitable mix of liabilities, as reflected in the 7.9% year-on-year fall in time deposits. This fall has been offset by the increase in the assets under management in mutual funds (up 6.7%) and other more sophisticated products such as repos and other fixed-income products.

The strength of the insurance business was maintained thanks to the broad product catalog (including “Inversión Libre Patrimonial”, “VidaSegura”, “HogarSeguro”, “Auto” and “Transacción Segura”), as well as the low level of claims over the year.