BBVA in 2012

allocations to the deposit guarantee funds, especially in Spain, it declined 60.3% over the lasttwelve months.Finally, gross income, which has been growing quarter to quarter, stood at €22,441m in 2012, up 12.1%year-on-year. Without taking into account the less recurrent items from NTI and dividends, this figurewould be €20,284m, up 12.8% over the same period.5 6 Operating incomeThe most significant aspect of operating expenses is their control in developed countries andtheir growth in emerging areas, in line with the figures mentioned in the quarterly reports for2012. Between January and December 2012, they totaled €10,786m, with a year-on-year increaseof 10.8%. This is due to the investment efforts being made, basically in emerging geographicalareas and in technology. The size and scale of the Group have enabled it to undertake significantinvestments in global technology projects, particularly in the area of transformation and innovation.They have positioned the Bank at the forefront of technological investment in the sector. BBVAstarted up a number of projects in 2012, including the implementation of the new BBVA Compasstechnological platform in all its branches in the United States. Progress has also been made in theGroup’s multichannel distribution model, of which one example is the launch of “Dinero Móvil BBVABancomer” in Mexico.Earnings71