BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND ... - BBVA

• The balance of “Other operating income and expenses” for the six months ended June 30, 2010 was
a loss of €87 million, a 14.5% decrease compared to the loss €102 million recorded for the six months
ended June 30, 2009. This heading includes the adjustment for hyperinflation in Venezuela.
As a result of the foregoing, the balance of “Gross income” for the six months ended June 30, 2010 was
€1,844 million, an increase of 1.1% over the €1,824 million recorded for the six months ended June 30,
2009.
• The balance of “Operating expenses” for the six months ended June 30, 2010 was €785 million, an
increase of 2.8% over the €763 million recorded for the six months ended June 30, 2009, mainly due to
the exchange-rate effect mentioned above (at constant exchange rates the increase would have been
12.2%). However, this increase is below the average rate of inflation in the countries in the region.
As a result of the foregoing, the “Operating income” for the six months ended June 30, 2010 was €1,059
million, slight fall of 0.2% over the €1,061 million recordedfor the six months ended June 30, 2009 (at
constant exchange rates there would have been a rise of 4.6%).
• The balance of “Impairment losses on financial assets (net)” for the six months ended June 30, 2010
was €214 million, an increase of 0.4% on the €215 million recorded for the six months ended June 30,
2009, as the recovery in the economy is not leading to lower quality assets in the area.
• The balance of "Provisions (net)” and “Other gains (losses)” for the six months ended June 30, 2010
was €13 million of various provisions, compared to a net of -€8 million for the six months ended June 30,
2009.
As a result of the foregoing, "Income before tax" for the six months ended June 30, 2010 amounted to
€832 million, a slight fall of 0.8% compared with €839 million for the six months ended June 30, 2009, due to
exchange-rate movements, as without their effect the growth would have been 6.5%.
• The balance of “Income tax” for the six months ended June 30, 2010 was €185 million, a fall of 8.6% on
the €203 million for the six months ended June 30, 2009.
The balance of “Net income” for the six months ended June 30, 2010 was €647 million, an increase of 1.7%
over the €636 million recorded for the six months ended June 30, 2009 (at constant exchange rates the
increase would have been 10.1%).
• “Net income attributed to non-controlling interests" for the six months ended June 30, 2010 was
€194 million, a fall of 9.7% on the €214 million for the six months ended June 30, 2009, mainly due to the
exchange rate (at constant exchange rates the increase would have been 4.0%).
In all, the “Net income attributed to parent company” for the six months ended June 30, 2010 was €453
million, an increase of 7.6% on the figure of €421 million for the six months ended June 30, 2009 (at constant
exchange rates the increase would have been 12.9%).
The changes in the principal headings of activity in this area of business were as follows:
• As of December 31, 2009, the “Loan and advances to customers (gross)” balance was €28,783
million, up 9.8% on the figure of €26,223 million as of December 31, 2009, due to the recovery in the
economy that has taken place so far in 2010.
• As of June 30, 2010, total customer funds, both on-balance and off-balance, including mutual funds,
pension funds and other funds, amounted to €80,173 million, an increase of 15.3% on the €70,248
million as of December 31, 2009, due primarily to the positive performance of assets in mutual funds,
and above all in pension funds. There was also a positive performance in lower-cost balance-sheet
funds, such as current and savings accounts.
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