Balance sheet and business activity

At the end of the first quarter of 2013, the BBVA Group’s balance sheet and business activity closely reflected the trends mentioned over the course of 2012:

• Increase of gross lending to customers in the quarter due to the positive impact of exchange rates, the temporary rise in the most volatile balances from repo agreements related to market operations in Spain and stronger activity in emerging economies. All this in a context of reduced lending activity in Spain and in the Group’s CIB portfolios.
• Growth of customer deposits, basically from the retail segment, which have risen in all the geographical areas.
• In short, this was yet another quarter of improvement in the Group’s liquidity and funding structure.
• A rise in total equity over the quarter due to the high earnings generated over the period.
• Off-balance sheet funds performed outstandingly well in the quarter in all the regions where the Group operates, in mutual funds, pension funds and managed customer portfolios.
• Finally, there was a positive impact from exchange rates during the year and in the quarter.

Consolidated balance sheet ⁽¹⁾

(Million euros)

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	31-03-13	Δ %	31-03-12	31-12-12
Cash and balances with central banks	30,208	21.4	24,873	37,434
Financial assets held for trading	75,750	6.4	71,208	79,954
Other financial assets designated at fair value through profit or loss	3,079	(3.9)	3,204	2,853
Available-for-sale financial assets	74,135	9.5	67,728	71,500
Loans and receivables	387,551	2.1	379,579	383,410
Loans and advances to credit institutions	26,383	(4.4)	27,609	26,522
Loans and advances to customers	357,490	2.4	348,964	352,931
Other	3,678	22.4	3,006	3,957
Held-to-maturity investments	9,734	(5.2)	10,268	10,162
Investments in entities accounted for using the equity method	6,991	18.2	5,913	6,795
Tangible assets	7,831	6.2	7,374	7,785
Intangible assets	8,952	4.7	8,550	8,912
Other assets	28,843	32.4	21,780	28,980
Total assets	633,073	5.4	600,477	637,785
Financial liabilities held for trading	54,894	11.3	49,308	55,927
Other financial liabilities at fair value through profit or loss	3,001	49.9	2,002	2,516
Financial liabilities at amortized cost	499,038	3.3	482,921	506,487
Deposits from central banks and credit institutions	91,277	(7.9)	99,101	106,511
Deposits from customers	304,574	9.4	278,445	292,716
Debt certificates	83,813	0.8	83,177	87,212
Subordinated liabilities	12,009	(21.6)	15,313	11,831
Other financial liabilities	7,364	6.9	6,886	8,216
Liabilities under insurance contracts	10,314	28.1	8,049	9,032
Other liabilities	19,253	14.4	16,835	20,021
Total liabilities	586,500	4.9	559,115	593,983
Non-controlling interests	2,362	16.8	2,022	2,372
Valuation adjustments	(1,005)	(61.0)	(2,577)	(2,184)
Shareholders’ funds	45,216	7.9	41,916	43,614
Total equity	46,573	12.6	41,361	43,802
Total equity and liabilities	633,073	5.4	600,477	637,785
Memorandum item:
Contingent liabilities	38,195	(9.2)	42,046	39,407

(1) Pro forma financial statements with Garanti Group accounted for by the proportional consolidation method, without early application of the IFRS 10, 11 and 12.

Customer lending (gross)

(Billion euros)

(1) At constant exchange rates: +2.8%.

Customer lending

(Million euros)

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	31-03-13	Δ %	31-03-12	31-12-12
Domestic sector	192,543	1.5	189,742	190,817
Public sector	25,799	(0.3)	25,877	25,399
Other domestic sectors	166,744	1.8	163,865	165,417
Secured loans	103,373	5.1	98,367	105,664
Other loans	63,371	(3.2)	65,499	59,753
Non-domestic sector	158,640	3.8	152,800	156,312
Secured loans	64,809	5.6	61,386	61,811
Other loans	93,831	2.6	91,415	94,500
Non-performing loans	21,448	35.1	15,880	20,287
Domestic sector	16,184	45.8	11,101	15,159
Non-domestic sector	5,263	10.1	4,779	5,128
Customer lending (gross)	372,630	4.0	358,422	367,415
Loan-loss provisions	(15,140)	60.1	(9,458)	(14,484)
Customer lending (net)	357,490	2.4	348,964	352,931

Customer funds

(Billion euros)

(1) At constant exchange rates: +8.6%.

Customer funds

(Million euros)

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	31-03-13	Δ %	31-03-12	31-12-12
Deposits from customers	304,574	9.4	278,445	292,716
Domestic sector	146,359	12.4	130,240	141,169
Public sector	21,646	(6.8)	23,219	21,807
Other domestic sectors	124,713	16.5	107,021	119,362
Current and savings accounts	48,290	10.8	43,589	48,208
Time deposits	66,789	35.4	49,312	61,973
Assets sold under repurchase agreement and other	9,634	(31.8)	14,119	9,181
Non-domestic sector	158,215	6.8	148,205	151,547
Current and savings accounts	97,419	10.2	88,406	98,169
Time deposits	53,514	(1.6)	54,360	48,691
Assets sold under repurchase agreement and other	7,282	33.9	5,438	4,688
Other customer funds	103,501	11.2	93,100	98,240
Spain	52,855	3.9	50,853	51,915
Mutual funds	19,259	(2.5)	19,747	19,116
Pension funds	18,779	6.8	17,590	18,313
Customer portfolios	14,817	9.6	13,517	14,486
Rest of the world	50,647	19.9	42,247	46,325
Mutual funds and investment companies	23,808	16.6	20,416	22,255
Pension funds (1)	10,803	18.8	9,095	10,418
Customer portfolios	16,036	25.9	12,735	13,652
Total customer funds	408,076	9.8	371,544	390,956

(1) They do not include the assets under management by pension fund administrators in Mexico (sale closed in January, 2013), Colombia (sale closed in April, 2013) or Chile (for which the BBVA Group has signed a sale agreement).