Balance Sheet at 31 December 2010 of BBVA
Balance Sheet at 31 December 2010 of BBVA
Balance Sheet at 31 December 2010 of BBVA
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Transl<strong>at</strong>ion <strong>of</strong> financial st<strong>at</strong>ements originally issued in Spanish and prepared in accordance with generally accounting principles Spain<br />
(See Note 1 and 54). In the event <strong>of</strong> a discrepancy, the Spanish-language version prevails.<br />
Below are details <strong>of</strong> the impaired financial assets as <strong>of</strong> <strong>December</strong> <strong>31</strong>, <strong>2010</strong>, without considering impaired<br />
contingent liabilities, classified by geographical loc<strong>at</strong>ion <strong>of</strong> risk and by the time since their oldest past-due<br />
amount or the period since they were deemed impaired:<br />
Impaired Assets by Geographic Area and Time<br />
<strong>2010</strong><br />
Less than 6<br />
Months<br />
Past-Due<br />
6 to 9<br />
Months<br />
Past-Due<br />
Millions <strong>of</strong> Euros<br />
9 to 12 More than 12<br />
Months Months<br />
Past-Due Past-Due<br />
Spain 4,547 984 736 4,584 10,851<br />
Rest <strong>of</strong> Europe 10 27 - 33 70<br />
Rest <strong>of</strong> the world 260 40 56 121 477<br />
Total 4,817 1,051 792 4,738 11,398<br />
Total<br />
The table below shows the finance income accrued on impaired financial assets as <strong>of</strong> <strong>December</strong> <strong>31</strong>, <strong>2010</strong>,<br />
and 2009:<br />
Millions <strong>of</strong> Euros<br />
<strong>2010</strong> 2009<br />
Financial Income from Impaired Assets 1,267 1,001<br />
This income is not recognized in the accompanying income st<strong>at</strong>ement due to the existence <strong>of</strong> doubts as to<br />
the collectability <strong>of</strong> these assets.<br />
Note 2.1.b gives a description <strong>of</strong> the individual analysis <strong>of</strong> impaired financial assets, including the factors the<br />
entity takes into account in determining th<strong>at</strong> they are impaired and the extension <strong>of</strong> guarantees and other<br />
credit enhancements.<br />
The following shows the changes in impaired financial assets written <strong>of</strong>f from the balance sheet for the years<br />
ended <strong>December</strong> <strong>31</strong>, <strong>2010</strong> and 2009 because the possibility <strong>of</strong> their recovery was deemed remote:<br />
Millions <strong>of</strong> Euros<br />
Changes in Impaired Financial Assets Written-Off from the<br />
<strong>Balance</strong> <strong>Sheet</strong><br />
<strong>2010</strong> 2009<br />
<strong>Balance</strong> <strong>at</strong> the beginning 5,356 4,545<br />
Increase: 2,015 1,141<br />
Assets <strong>of</strong> remote collectability 1,594 833<br />
Past-due and not collected income 421 289<br />
Contributions by mergers - 19<br />
Decrease: (303) (3<strong>31</strong>)<br />
Cash recovery (109) (80)<br />
Foreclosed assets - (16)<br />
Definitive derecognitions (194) (235)<br />
Cancell<strong>at</strong>ion (95) (110)<br />
Expiry <strong>of</strong> rights (1) -<br />
Other causes (98) (125)<br />
Net exchange differences 3 1<br />
<strong>Balance</strong> <strong>at</strong> the end 7,071 5,356<br />
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