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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11.3. LOANS AND ADVANCES TO CUSTOMERS<br />
The breakdown <strong>of</strong> the balance <strong>of</strong> this heading in the balance sheets as <strong>of</strong> <strong>December</strong> <strong>31</strong>, <strong>2010</strong> and 2009,<br />
based on the mode and loc<strong>at</strong>ion <strong>of</strong> oper<strong>at</strong>ions, is as follows:<br />
Millions <strong>of</strong> Euros<br />
Loans and Advances to Customers <strong>2010</strong> 2009<br />
Commercial credit 13,637 12,689<br />
Secured loans 107,097 108,150<br />
Credit accounts 11,773 10,282<br />
Other loans 78,890 76,957<br />
Reverse repurchase agreements 4,741 940<br />
Receivable on demand and other 4,170 5,865<br />
Finance leases 4,778 5,652<br />
Other financial assets 2,744 1,773<br />
Impaired assets 11,172 10,573<br />
Total gross 239,002 232,881<br />
Valu<strong>at</strong>ion adjustments (4,971) (4,390)<br />
Impairment losses (5,525) (5,029)<br />
Accrued interests and fees 72 162<br />
Hedging deriv<strong>at</strong>ives and others 482 477<br />
Total net 234,0<strong>31</strong> 228,491<br />
The breakdown, by borrower sector as <strong>of</strong> <strong>December</strong> <strong>31</strong>, <strong>2010</strong> and 2009 was as follows:<br />
Millions <strong>of</strong> Euros<br />
Loans and Advances to Customers <strong>2010</strong> 2009<br />
Financial paper 24,204 21,239<br />
Commercial credit 1,766 1,888<br />
Secured loans 29,575 30,623<br />
Credit accounts 39,566 41,021<br />
Other loans 27,935 22,869<br />
Reverse repurchase agreements 89,118 87,712<br />
Receivable on demand and other 4,723 5,589<br />
Finance leases 22,115 21,940<br />
Total net 239,002 232,881<br />
Of all the “Loans and advances to customers" as <strong>of</strong> <strong>December</strong> <strong>31</strong>, <strong>2010</strong>, 4.3% were concluded with fixedinterest<br />
conditions and 95.7% were variable interest.<br />
The Bank, via several <strong>of</strong> its banks, provides its customers with financing to purchase assets, including<br />
movable and immovable property, in the form <strong>of</strong> the finance lease arrangements recognized under this<br />
heading. The breakdown <strong>of</strong> these finance leases as <strong>of</strong> <strong>December</strong> <strong>31</strong>, <strong>2010</strong> and 2009 was as follows:<br />
Millions <strong>of</strong> Euros<br />
Financial Lease Arrangements <strong>2010</strong> 2009<br />
Movable property 2,306 2,956<br />
Real Est<strong>at</strong>e 2,472 2,696<br />
Fixed r<strong>at</strong>e 1,136 1,208<br />
Flo<strong>at</strong>ing r<strong>at</strong>e 3,642 4,444<br />
The heading “Loans and receivables – Loans and advances to customers” in the accompanying balance<br />
sheets includes mortgage loans th<strong>at</strong>, as mentioned in Note 30, are considered a suitable guarantee for the<br />
issue <strong>of</strong> long-term mortgage covered bonds (Note 20.4.4), pursuant to the Mortgage Market Act.<br />
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