Balance Sheet at 31 December 2010 of BBVA

Translation of financial statements originally issued in Spanish and prepared in accordance with generally accounting principles Spain
(See Note 1 and 54). In the event of a discrepancy, the Spanish-language version prevails.
26. TREASURY STOCK 93
27. VALUATION ADJUSTMENTS 94
28. CAPITAL BASE AND CAPITAL MANAGEMENT 94
29. FINANCIAL GUARANTEES AND DRAWABLE BY THIRD PARTIES 96
30. ASSETS ASSIGNED TO OTHER OWN AND THIRD-PARTY OBLIGATIONS 96
31. OTHER CONTINGENT ASSETS AND CONTINGENT LIABILITIES 96
32. PURCHASE AND SALE COMMITMENTS AND FUTURE PAYMENT OBLIGATIONS 96
33. TRANSACTIONS FOR THE ACCOUNT OF THIRD PARTIES 97
34. INTEREST, INCOME AND SIMILAR EXPENSES 97
35. DIVIDEND INCOME 99
36. FEE AND COMMISSION INCOME 99
37. FEE AND COMMISSION EXPENSES 99
38. NET GAINS (LOSSES) ON FINANCIAL ASSETS AND LIABILITIES 100
39. OTHER OPERATING INCOME AND EXPENSES 101
40. ADMINISTRATION COSTS 101
41. DEPRECIATION AND AMORTIZATION 103
42. PROVISIONS (NET) 103
43. IMPAIRMENT LOSSES ON FINANCIAL ASSETS (NET) 104
44. IMPAIRMENT LOSSES ON OTHER ASSETS (NET) 104
45. GAINS (LOSSES) ON DERECOGNIZED ASSETS NOT CLASSIFIED AS NON-CURRENT ASSETS
HELD FOR SALE 104
46. GAINS (LOSSES) IN NON-CURRENT ASSETS HELD FOR SALE NOT CLASSIFIED AS
DISCONTINUED OPERATIONS 105
47. CASH FLOW STATEMENT 105
48. ACCOUNTANT FEES AND SERVICES 106
49. RELATED-PARTY TRANSACTIONS 106
50. REMUNERATION OF THE BANK’S DIRECTORS AND SENIOR MANAGEMENT 108
51. DETAILS OF THE DIRECTORS’ HOLDINGS IN COMPANIES WITH SIMILAR BUSINESS ACTIVITIES
110
52. OTHER INFORMATION 111
53. SUBSEQUENT EVENTS 111
54. EXPLANATION ADDED FOR TRANSLATION TO ENGLISH 111
2