BBVA in 2012

EarningsIn 2012, BBVA Group reported a net attributable profit of €1,676m. The main feature of this result isthe high quality of revenue, despite the hugely difficult and demanding background in which it hasbeen generated. The Group has thus demonstrated for yet another year its high capacity to generaterecurrent earnings, which have increased quarter-on-quarter, with an accumulated growth of 12.8%over the year. This standout performance is due to BBVA’s approach to banking, as described in the“Environment and positioning” section of this report.The most significant aspects of 2012, from the standpoint of earnings, are:• Sound recurrent revenue. Net interest income is above the level of 2011, while net fees andcommissions are also up on the previous year, despite the regulatory restrictions that came intoforce in some geographical areas and lower activity in Spain.• Significant contribution from NTI, particularly in the last two quarters of the year.1 A significant increase in provisions in Spain to cover the gradual impairment in real-estate portfolios andassets.2 Earnings65