South America. F<strong>in</strong>ancial statements of the ma<strong>in</strong> countriesIncome statement(Million euros)Argent<strong>in</strong>aChile<strong>2012</strong> ∆% ∆% (1) 2011 <strong>2012</strong> ∆% ∆% (1) 2011Net <strong>in</strong>terest <strong>in</strong>come 575 42.0 44.4 405 462 10.4 2.7 419Net fees and commissions 229 31.4 33.6 174 85 0.9 (6.2) 84Net trad<strong>in</strong>g <strong>in</strong>come 60 (32.3) (31.2) 89 26 (16.4) (22.3) 32Other <strong>in</strong>come/expenses 69 (2.4) (0.8) 71 71 44.2 34.1 49Gross <strong>in</strong>come 934 26.3 28.4 739 645 10.4 2.7 584Operat<strong>in</strong>g costs (492) 15.8 17.8 (425) (324) 16.5 8.4 (278)Personnel expenses (270) 12.5 14.4 (240) (179) 19.5 11.2 (150)General and adm<strong>in</strong>istrative expenses (202) 19.1 21.1 (169) (135) 19.9 11.5 (112)Deprecation and amortization (20) 32.0 34.2 (15) (10) (36.8) (41.2) (16)Operat<strong>in</strong>g <strong>in</strong>come 442 40.5 42.8 315 321 4.9 (2.4) 306Impairment on f<strong>in</strong>ancial assets (net) (55) 48.9 51.4 (37) (89) 40.5 30.7 (64)Provisions (net) and other ga<strong>in</strong>s (losses) (15) n.m. n.m. 1 7 n.m. n.m. (4)Income before tax 371 33.1 35.4 279 239 0.3 (6.7) 238Income tax (121) 56.2 58.8 (78) (37) (5.7) (12.3) (39)Net <strong>in</strong>come from ongo<strong>in</strong>g operations 250 24.3 26.3 201 202 1.5 (5.6) 199Net <strong>in</strong>come from discont<strong>in</strong>ued operations - - - - 168 39.0 29.3 121Net <strong>in</strong>come 250 24.3 26.3 201 370 15.7 7.6 320Non-controll<strong>in</strong>g <strong>in</strong>terests (59) 32.8 35.0 (44) (102) 6.6 (0.9) (96)Net attributable profit 191 21.8 23.9 157 268 19.6 11.2 224(1) At constant exchange rates.Balance sheet(Million euros)Argent<strong>in</strong>aChile31-12-12 ∆% ∆% (1) 31-12-11 31-12-12 ∆% ∆% (1) 31-12-11Cash and balances with central banks 1,341 0.9 17.3 1,329 381 8.3 1.7 352F<strong>in</strong>ancial assets 569 (35.0) (24.4) 875 2,499 (14.7) (19.9) 2,930Loans and receivables 4,753 3.1 20.0 4,609 12,907 21.5 14.0 10,627Loans and advances to customers 4,208 5.9 23.2 3,974 11,974 24.6 17.0 9,607Loans and advances to credit <strong>in</strong>stitutions and others 544 (14.2) (0.2) 635 933 (8.5) (14.2) 1,020Tangible assets 109 (4.9) 10.6 115 94 (26.5) (31.0) 128Other assets 183 14.6 33.3 160 1,199 59.3 49.5 753Total assets/Liabilities and equity 6,954 (1.9) 14.1 7,088 17,080 15.5 8.4 14,790Deposits from central banks and credit <strong>in</strong>stitutions 80 (54.3) (46.8) 174 2,654 11.0 4.2 2,391Deposits from customers 5,280 1.3 17.8 5,213 7,829 11.9 5.0 6,997Debt certificates 78 77.0 105.9 44 1,557 35.1 26.8 1,153Subord<strong>in</strong>ated liabilities - - - - 650 8.2 1.6 601F<strong>in</strong>ancial liabilities held for trad<strong>in</strong>g - - - 4 766 (6.1) (11.9) 815Other liabilities 1,155 (10.6) 4.0 1,292 3,074 30.7 22.7 2,352Economic capital allocated 362 0.5 16.9 361 550 14.3 7.3 481(1) At constant exchange rates.178 Bus<strong>in</strong>ess areas
Colombia Peru Venezuela<strong>2012</strong> ∆% ∆% (1) 2011 <strong>2012</strong> ∆% ∆% (1) 2011 <strong>2012</strong> ∆% ∆% (1) 2011684 24.5 11.8 549 665 28.0 13.2 520 1,720 57.4 45.3 1,093112 13.0 1.5 99 177 24.1 9.8 142 255 48.4 37.0 17285 119.0 96.7 39 128 38.6 22.6 93 114 (46.6) (50.7) 2148 n.m. n.m. (7) (13) 8.2 (4.3) (12) (404) 13.3 4.7 (357)889 30.7 17.4 680 958 28.9 14.0 743 1,685 50.2 38.7 1,121(373) 23.7 11.2 (302) (316) 25.9 11.3 (251) (623) 38.0 27.4 (452)(167) 22.4 10.0 (137) (169) 25.5 11.0 (135) (266) 40.3 29.5 (189)(175) 26.7 13.8 (138) (124) 25.7 11.2 (99) (276) 43.2 32.2 (193)(31) 15.3 3.6 (27) (22) 29.1 14.1 (17) (81) 17.3 8.4 (69)516 36.2 22.3 379 642 30.5 15.4 492 1,061 58.5 46.3 670(113) 41.5 27.1 (80) (139) 71.4 51.6 (81) (185) 10.3 1.8 (168)10 (31.9) (38.8) 15 (4) (31.8) (39.7) (6) (194) 111.9 95.7 (92)413 31.5 18.1 314 499 23.2 8.9 405 682 66.2 53.5 410(105) 39.6 25.4 (75) (132) 29.0 14.1 (102) (87) 90.7 76.0 (46)308 29.0 15.8 239 367 21.2 7.2 303 595 63.2 50.7 36436 66.0 49.1 22 37 119.1 93.8 17 - - - -344 32.0 18.6 261 404 26.4 11.8 320 595 63.2 50.7 364(13) 30.7 17.5 (10) (209) 25.6 11.1 (166) (265) 62.2 49.7 (163)331 32.1 18.7 251 195 27.1 12.5 154 329 64.0 51.4 201Colombia Peru Venezuela31-12-12 ∆% ∆% (1) 31-12-11 31-12-12 ∆% ∆% (1) 31-12-11 31-12-12 ∆% ∆% (1) 31-12-111,537 67.8 55.7 916 3,565 56.2 50.7 2,283 5,531 86.1 89.6 2,9712,325 17.3 8.8 1,982 998 9.6 5.8 911 3,232 82.1 85.5 1,7759,185 23.0 14.1 7,467 9,655 13.1 9.2 8,535 11,385 42.6 45.3 7,9838,948 22.9 14.0 7,280 9,377 14.1 10.2 8,216 9,693 43.3 46.0 6,766238 26.8 17.7 187 278 (12.7) (15.8) 319 1,691 39.0 41.6 1,217118 9.6 1.6 108 203 15.8 11.8 175 307 34.0 36.6 229530 74.2 61.6 304 465 46.1 41.0 318 379 30.8 33.3 28913,695 27.1 17.9 10,778 14,886 21.8 17.6 12,222 20,834 57.3 60.2 13,248404 (54.0) (57.4) 880 2,206 73.5 67.5 1,272 223 13.2 15.4 19710,256 40.8 30.6 7,286 9,335 9.5 5.7 8,527 17,449 63.4 66.5 10,677536 13.7 5.5 471 992 127.4 119.5 436 - - - -157 7.7 (0.0) 145 352 (0.1) (3.5) 352 - - - -76 (29.2) (34.4) 108 100 28.8 24.3 77 - - - -1,380 36.8 26.9 1,009 1,421 26.1 21.8 1,127 2,399 31.7 34.2 1,822886 0.9 (6.4) 878 480 11.5 7.6 430 763 37.9 40.5 553South America179
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BBVA Group Highlights
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“ In 2012 the Group generateda ne
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2
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Letter from the Chairman 5
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All this is the result of a strateg
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1 As the main expression of t
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Our communication in 2012 has conti
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Brand management in 2012 was highly
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BBVA Board CommitteesIn order to be
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• Across-the-board operational co
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Primary stakeholdersIntroduction: t
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BBVA earnings figures presented in
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High liquidity ofBBVA shareBBVA is
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Management modelA model of peoplema
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To sum up, the combination of the a
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South AmericaIn 2012, a common syst
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Number of claims filed at the Banki
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Environmentand BBVA positioningThe
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the measures taken to correct imbal
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The easing of financial tensions in
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Positioning of BBVA GroupBBVA conti
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20 2. A business model based on th
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- Innovate with teams dedicated exc
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25 In short, this banking model
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2. …reflected ingross income…28
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Risk under controlBBVA NPAs versusp
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Business areasSpainStrong franchise
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EurasiaAn area ofgrowth andpositive
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South AmericaBusiness activity(Year
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In short, abusinesstransformationre
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Group financialinformation65 Earnin
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EarningsIn 2012, BBVA Group reporte
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Consolidated income statement: quar
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20 Lastly, non-performing loans ha
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Capital baseThe main highlight in 2
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26 RatingsIn 2012, BBVA’s ratin
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Risk management90 Global Risk Manag
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Integration of risks andoverall ris
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Credit riskCredit risk quantificati
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Behavioral scoring is used to revie
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13LGD for Autos Finanzia, BBVA Spai
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The exposure breakdown by rating of
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22 Real-estate exposure and coverag
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ConcentrationExcluding sovereign ri
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27 BBVA Group. Net NPA entries(Mill
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Structural risksStructural interest
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Interest rate risk measurement is s
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BBVA continues working to improve a
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Credit risk in market activitiesThe
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Operational riskOperational risk is
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Operational risk management in the
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Reputational riskThis is another ty
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