BBVA in 2012

• Resilience in Spain, in a context of lower volumes, low interest rates and high competition forcustomer fund gathering, thanks to BBVA’s relatively better liquidity and solvency position. Overall,this area generated cumulative net interest income of €4,836m, with a rise of 10.1% compared withthe figure for the same period in 2011.• Eurasia grew 5.5% year-on-year to an accumulated total of €847m in 2012. The incorporationof Garanti on March 22, 2011, the strong activity with retail customers and the favorable trend incustomer spreads, particularly in Turkey (largely due to the reduction in the cost of liabilities), arebehind this good performance.• Mexico reported net interest income of €4,164m in 2012, 7.8% higher than in 2011 at constantexchange rates. Increased activity and adequate price management have enabled BBVA to offset theimpact of interest rates, which are at record lows.• Net interest income in South America continues to perform strongly, benefiting from buoyantactivity and the maintenance of customer spreads. Overall, the cumulative figure for the area as ofDecember 2012 is €4,291m, up 25.6% on the same period the previous year (excluding theexchange-rate effect).• In the United States net interest income continued to be negatively affected by the Guaranty run-off,lower business volume in CIB and the current environment of low interest rates with a practicallyflat curve. In contrast, the increase in the volume of loans and the year-on-year reduction in the costof deposits had a positive impact. As a result, this heading stood at €1,682m in 2012, down 4.7% atconstant exchanges rates.Breakdown of yields and costs2012 2011 2010% over ATA % yield/Cost % over ATA % yield/Cost % over ATA % yield/CostCash and balances with central banks 4.2 0.99 3.7 1.18 3.8 1.12Financial assets and derivatives 26.8 2.87 24.9 2.99 26.1 2.70Loans and advances to credit institutions 4.2 1.79 4.6 2.42 4.6 1.96Loans and advances to customers 57.5 5.72 60.1 5.51 59.6 4.89Euros 34.8 3.34 38.7 3.40 39.3 3.19Domestic 28.8 3.79 33.8 3.69 35.6 3.30Other 6.1 1.22 4.9 1.40 3.7 2.18Foreign currencies 22.7 9.39 21.5 9.31 20.3 8.19Other assets 7.3 0.44 6.5 0.58 5.9 0.48Total assets 100.0 4.21 100.0 4.25 100.0 3.78Deposits from central banks and credit institutions 17.3 2.14 13.6 2.63 14.3 1.89Deposits from customers 45.4 1.84 48.7 2.04 46.4 1.37Euros 23.5 1.34 27.0 1.58 21.8 1.02Domestic 15.3 1.57 16.9 1.66 15.8 1.28Other 8.2 0.90 10.1 1.43 6.0 0.33Foreign currencies 21.9 2.38 21.7 2.62 24.6 1.68Debt certificates and subordinated liabilities 16.7 2.71 19.3 2.38 21.4 1.95Other liabilities 13.8 0.94 11.6 1.11 11.9 0.62Equity 6.9 - 6.8 - 5.9 -Total liabilities and equity 100.0 1.79 100.0 1.94 100.0 1.40Net interest income/Average total assets (ATA) 2.42 2.31 2.38Earnings69