BBVA in 2012

EarningsThe United States ended the year with a net attributable profit of €475m, well above the previousyear, when it totaled €320m, excluding the goodwill impairment. Thus, the area’s earningsgrew 39.6% compared with 2011, if the aforementioned goodwill impairment is excluded. Thisimprovement is related to enhanced asset quality, and containment of operating costs.54 The United States. Net attributable profit (1)(Million euros at constant exchange rate)500475450267340+39.6% (2)400350300250200150100502010201120120(1) Adjusted.(2) At current exchange rate: +48.4%.Gross income in the area amounted to €2,395m in 2012, a year-on-year decline of 4.2%. The lowinterest rate environment and flat curves, together with the run-off of the Guaranty portfolio,affected the net interest income, which was down 4.7% in the same period. The reduction ofinterest bearing deposits and lending activity increase that did not offset the negative figuresmentioned above. Regulatory pressures also had a negative impact on income from fees, whichfell by 11.1%. BBVA Compass has implemented a number of measures designed to mitigate theadverse effects of the new regulatory environment (Durbin). An example of this is the increase infees and commissions from the new residential real-estate loans.55 BBVA Compass. Customer spread(Percentage)Yield on totalnet lendingCustomerspreadCost ofdeposits4.36 4.084.46 4.43 4.364.22 4.22 4.12 4.00 3.983.92 3.92 3.94 3.85 3.86 3.763.62 3.593.91 3.710.46 0.370.54 0.51 0.42 0.36 0.36 0.36 0.38 0.401Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q201120124.4,03,3,02,2,01,1,00,0,03,62192 Business areas