BBVA in 2012

Global Transactional BankingIn 2012, Global Transactional Banking continued to implement its 2015 Strategic Plan, focused on across-country and customer-centric approach. New products and solutions have been developedin all the transactional business lines and for all customer segments. BBVA Net Cash received the“Best Web Design in Latin America” award. It has also been named “Best Sub-Custodian Bank inSpain” thanks to the custody services provided. Euromoney magazine has named BBVA “BestCash Management Provider in Venezuela” and “Best Cash Management Provider in euros in LatinAmerica for International Financial Institutions”. BBVA has also been chosen as “Top Rated” in the“Agent Banks in Major Markets” survey conducted by Global Custodian in the “Cross Border/Non-Affiliated” and “Domestic” categories for custody services.Global MarketsGlobal Markets closed 2012 with revenue growth in its main products and geographical areas(except for rest of Europe and Asia). Gross income in 2012 stood at €1,152m, up 18.0% year-on-year.These good earnings figures are the result of an adequate strategy of geographical and customerdiversification.The business model of Global Markets continues to reinforce customer focus as the core elementof its value proposition. This has been recognized by the specialized media. BBVA was chosen bestbank in Spain in exchange rates at the IAIR Awards, and tops the Bloomberg ranking for the bestexchange rate forecasts of Latin American currencies against the dollar.In Spain, revenue from customers is up 5% year-on-year, with growth, above all, in strategicbusinesses such as exchange rates and lending, where the increases are over 15%. Revenue fromSMEs and retail customers rose by more than 50%, thanks to the close collaboration of GlobalMarkets with the commercial network. By products, exchange rates and lending have grownat double-digit rates year-on-year. In equity, BBVA continues to hold first place in stock marketbrokerage, with an 18.9% market share according to December 2012 data, more than 11 percentagepoints above the nearest competitor. In bond issues, BBVA tops the ranking with all types ofcustomers in Spain.65CIB. Market shares evolution in Spanish equities brokerage(Percentage)Institutions 2011 2012Marketshare 11-121 BBVA 16.1 18.9 2.82 Santander 9.2 7.5 –1.73 Société Générale 8.4 6.6 –1.84 Sabadell 4.6 6.3 1.75 Credit Suisse Securities 5.9 5.5 –0.46 Banco Espirito Santo 7.7 5.0 –2.77 Morgan Stanley 5.4 4.9 –0.58 Merrill Lynch Capital Markets 3.5 4.5 1.09 Intermoney n.d. 3.7 n.d.10 UBS n.d. 3.6 n.d.2525BBVASantanderSociétéGénéraleSabadellCredit SuisseSecurities201510502011 201220151050In the rest of Europe and Asia, revenue from customers in Lisbon and Milan rose by more than25%. London consolidated its position in 2012 as the strategic hub of the credit business, a productthat has doubled the earnings posted in the previous year.Geographical diversification has enabled Global Markets to ensure recurrent earnings in Mexicoand South America, offsetting the slowdown and volatility seen in developed markets.212 Business areas