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Note 16 - Investments in subsidiaries, joint ventures and associates | 12 Months Ended
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Dec. 31, 2017
Investments in subsidiaries, joint ventures and associates |
Investments in subsidiaries joint ventures and associates | Investments in subsidiaries, joint ventures and associates Joint venture s and associates The breakdown of the balance of “Investments in joint ventures and associates” (see Note 2.1) in the accompanying consolidated balance sheets is as follows
Joint Ventures and Associates Entities. Breakdown by entities (Millions of euros)
| 2017 | 2016 | 2015
Joint ventures |  |  |
Fideic F 403853 5 Bbva Bancom Ser.Zibata | 27 | 33 | 44
Fideicomiso 1729 Invex Enajenacion de Cartera | 53 | 57 | 66
PSA Finance Argentina Compañia Financier | 14 | 21 | 23
Altura Markets, S.V., S.A. | 64 | 19 | 20
RCI Colombia | 19 | 17 | -
Other joint ventures | 79 | 82 | 91
Subtotal | 256 | 229 | 243
Associates Entities |  |  |
Metrovacesa Suelo y Promoción, S.A. | 697 | 208 | -
Testa Residencial SOCIMI, S.A.U. | 444 | 91 | -
Metrovacesa Promoción y Arrendamientos, S.A. | - | 67 | -
Atom Bank, PLC | 66 | 43 | -
Brunara | - | - | 54
Metrovacesa | - | - | 351
Servired | 9 | 11 | 92
Other associates | 116 | 116 | 139
Subtotal | 1,332 | 536 | 636
Total | 1,588 | 765 | 879
Details of the joint ventures and associates as of December 31, 2017 are shown in Appendix II. The following is a summary of the changes in the in December 31, 2017, 2016 and 2015 under this heading in the accompanyin g consolidated balance sheets
Joint Ventures and Associates Entities. Changes in the Year (Millions of euros)
| Notes | 2017 | 2016 | 2015
Balance at the beginning |  | 765 | 879 | 4,509
Acquisitions and capital increases |  | 868 | 456 | 464
Disposals and capital reductions |  | (8) | (91) | (32)
Transfers and changes of consolidation method |  | - | (351) | (3,850)
Share of profit and loss | 39 | 3 | 25 | 174
Exchange differences |  | (29) | (34) | (250)
Dividends, valuation adjustments and others |  | (12) | (118) | (136)
Balance at the end |  | 1,588 | 765 | 879
The variation during the year 2017 is mainly explained by the increase of BBVA Group stakes in Testa Residencial, S.A. and Metrovacesa Suelo y Promoción, S.A Promociones through its contribution to the c apital increases carried out by both entities by contributing assets from the Bank’s real estate assets (see Note 21). During the year 2016, two capital increases in Metrovacesa, S.A were made through a debt swap and a contribution of real estate assets, w hich provided the Group 357 million euros, after this there was a partial Split of Metrovacesa, S.A in favor of a beneficiary company from a new constitution denominated Metrovacesa Suelo y Promocion, S.A. In the fourth quarter of the year 2016, there was a total split of Metrovacesa, S.A through its extinction and division of its patrimony in three parts, two of which merged with Merlin Properties, SOCIMI, S.A and Testa Residencial, SOCIMI, S.A. As result of the previous mentioned splits, the Group receive d equity interests in the corresponding beneficiary companies, 6.41% of its capital was received, having been transferred to the heading "Available-for-sale” of the consolidated financial assets as of December 31, 2016. The variation in 2015 was mainly exp lained by the change of the me thod of consolidation of Garanti (see Note 3) and by the capital increase in Metrovacesa, S.A, for compensation credits amounting to 159 million euros. Appendix III provides notifications on acquisitions and disposals of holdi ngs in subsidiaries, joint ventures and associates, in compliance with Article 155 of the Corporations Act and Article 53 of the Securities Market Act 24/1988 Other information about associates and joint ventures If these entities had been consolidated r ather than accounted for using the equity method, the change in each of the lines of balance sheet and the consolidated income statement would not be significant. As of December 31, 2017, 2016 and 2015 there was no financial support agreement or other cont ractual commitment to associates and joint ventures entities from the holding or the subsidiaries that are not recognized in the financial statements (see Note 53.2). As of December 31, 2017, 2016 and 2015 there was no contingent liability in connection with the investments in joint ventures and associates (see Note 53.2) Impairment As described in IAS 36, when there is indicator of impairment, the book value of the associates and joint venture entities should be compared with their recoverable amount, being the latter calculated as the higher between the value in use and the fair value minus the cost of sale. As of December 31, 2017, 2016 and 2015, there were no significant impairments recognized

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