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January-December 2012

Balance sheet and business activity

At the end of the fourth quarter of 2012, BBVA’s balance sheet and business activity reflect the trends that have been mentioned over the course of the year:

  • Decline in gross customer lending during the quarter. Growth in activity in emerging markets is offset by the reduction in the Spain and in CIB loan portfolios.
  • Positive performance in on-balance-sheet customer funds due mainly to the performance of the retail segment.
  • Growth of debt certificates in the quarter and the year as a whole, basically due to new issues and promissory notes (“pagarés”) placed in the retail network.
  • In short, another quarter in which there has been further improvement in the Group’s liquidity and funding structure.
  • Positive impact of exchange rates during the year, though negative in the quarter.

Consolidated balance sheet

(Million euros)

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31-12-12 Δ % 31-12-11 30-09-12
Cash and balances with central banks 37,434 21.0 30,939 28,207
Financial assets held for trading 79,954 13.2 70,602 83,449
Other financial assets designated at fair value through profit or loss 2,853 (4.2) 2,977 3,499
Available-for-sale financial assets 71,500 23.0 58,143 71,329
Loans and receivables 383,409 0.6 381,077 394,223
Loans and advances to credit institutions 26,522 1.6 26,107 26,777
Loans and advances to customers 352,930 0.3 351,900 363,818
Other 3,957 28.9 3,069 3,629
Held-to-maturity investments 10,162 (7.2) 10,955 10,118
Investments in entities accounted for using the equity method 6,795 16.3 5,843 6,681
Tangible assets 7,785 6.2 7,330 8,396
Intangible assets 8,912 2.7 8,677 8,849
Other assets 29,056 37.4 21,145 30,696
Total assets 637,860 6.7 597,688 645,447
Financial liabilities held for trading 55,927 9.0 51,303 58,740
Other financial liabilities at fair value through profit or loss 2,516 37.9 1,825 2,491
Financial liabilities at amortized cost 506,487 5.5 479,904 507,764
Deposits from central banks and credit institutions 106,511 15.1 92,503 112,738
Deposits from customers 292,716 3.7 282,173 288,709
Debt certificates 87,198 6.4 81,930 85,053
Subordinated liabilities 11,845 (23.2) 15,419 13,636
Other financial liabilities 8,216 4.3 7,879 7,626
Liabilities under insurance contracts 9,032 16.7 7,737 8,994
Other liabilities 20,095 19.2 16,861 23,709
Total liabilities 594,057 6.5 557,630 601,697
Non-controlling interests 2,373 25.3 1,893 2,260
Valuation adjustments (2,183) (21.7) (2,787) (2,300)
Shareholders' funds 43,614 6.5 40,952 43,789
Total equity 43,803 9.3 40,058 43,750
Total equity and liabilities 637,860 6.7 597,688 645,447
Memorandum item:



Contingent liabilities 39,540 (0.9) 39,904 40,062

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