BBVA in 2012

– Innovate with teams dedicated exclusively to constructing the retail banking of thefuture, and provide global business solutions closely linked to technology.In short, the retail banking business responds to BBVA’s vision of a customer-centric organizationthat promotes multi-channel products and services and innovates to offer value solutions anddifferentiated experiences to its customers. The global management and cross-cutting nature ofthe retail businesses can be seen in initiatives such as:• A “Cross-border Synergies project” in CBB, which has established a network of coordinatorsin 20 countries and provides immediate cross-referencing for customers with internationalexpansion needs and a flexible account opening process across the Group’s various banks.More than 600 companies have benefited from this service so far.• A “Personal Banking project”, based on a differentiated value proposition adapted to the massaffluentcustomer segment, which provides preferential service to the segment’s customers.It has already been launched in Spain, Mexico and Colombia in 2012. It will be launched inUruguay and Paraguay in the first quarter of 2013 and extended to other geographical areasthroughout this year and the start of 2014.224. A model of profit subject to principles founded on the absolute principles of integrity,prudence and transparency, whose primary objective is to create value for its shareholders.BBVA firmly believes that putting principles first in the Group’s governance management is acompetitive advantage in itself. One of the values that has become of greatest importance atthe present time is being a reliable bank, in other words, a bank that customers, shareholders,employees and citizens can trust. Not only because it meets the targets it sets itself, but alsobecause of the way it does so: by respecting regulations, principles and people.In a crisis situation like today’s, in which the reputation of the sector has been more negativelyimpacted than ever, acting and communicating are essential. BBVA has implementednumerous plans and initiatives to this end, including the “Community Impact” project, whichaims to improve understanding of BBVA’s impact on the community. To do so it has searchedfor simple and comprehensible indicators of initiatives in traditional financial activity, such asnet jobs generated, the number of people who live in housing financed by the Bank, microentrepreneursfunded through BBVA Microfinance Foundation microcredits, etc. Theseindicators have been presented by the Group’s President and COO at the 2012 AGM and duringthe presentation of first quarter 2012 results. Moreover, the project only works with indicatorsverified by BBVA’s external financial auditors. The goal is to be increasingly transparent onrelevant subjects and to make progress in recovering the trust lost by some of the stakeholdersin the financial sector.46 Executive summary