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Note 6 - Operating Segment Reporting | 12 Months Ended
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Dec. 31, 2017
Operating Segments Reporting |
DisclosureOfEntitysReportableSegmentsExplanatory | Operating segment reporting The information about operating segments is presented in accordance with IFRS 8. Operating segment reporting represents a basic tool in the oversight and management of the BBVA Group’s various activities. The BBVA Group compiles reporting information on disaggregated business activities. These business activities are then aggregated in accordance with the organizational structure determined by the BBVA Group and, ultimately, into the rep ortable operating segments themselves. During 2017, there have not been significant changes in the reporting structure of the operating segments of the BBVA Group compared to the structure existing at the end of 2016. The structure of the operating segment is as follows: Banking activity in Spain As in previous years, includes the Retail Network in Spain, Corporate and Business Banking (CBB), Corporate & Investment Banking (CIB), BBVA Seguros and Asset Management units in Spain. It also includes the portfo lios, finance and structural interest-rate positions of the euro balance sheet. Non Core Real Estate Includes specialist management in Spain of loans to developers in difficulties and real-estate assets mainly comprised foreclosed assets, originated from both residential mortgages and loans to developers. New loan production to developers or loans to those that are not in difficulties are managed by Banking activity in Spain. The United States Includes the Group’s business activity in the country through t he BBVA Compass group and the BBVA New York branch. Mexico Includes all the banking and insurance businesses in the country. Turkey Includes the activity of the Garanti Group. South America Includes BBVA’s banking and insurance businesses in the region. Rest of Eurasia Includes business activity in the rest of Europe and Asia, i.e. the Group´s retail and wholesale businesses in the area. Lastly, the Corporate Center is comprised of the rest of the assets and liabilities that have not been allocated to th e operating segments. It includes: the costs of the head offices that have a corporate function; management of structural exchange-rate positions; specific issues of capital instruments to ensure adequate management of the Group’s global solvency; portfoli os and their corresponding results, whose management is not linked to customer relations, such as industrial holdings; certain tax assets and liabilities; funds due to commitments with employees; goodwill and other intangibles. The breakdown of the BBVA G roup’s total assets by operating segments as of December 31, 2017, 2016 and 2015, is as follows
Total Assets by Operating Segments (Millions of euros)
|  | 2017 | 2016 (1) | 2015 (1)
Banking Activity in Spain |  | 319,417 | 335,847 | 343,793
Non Core Real Estate |  | 9,714 | 13,713 | 17,122
United States |  | 80,493 | 88,902 | 86,454
Mexico |  | 89,344 | 93,318 | 99,591
Turkey |  | 78,694 | 84,866 | 89,003
South America |  | 74,636 | 77,918 | 70,657
Rest of Eurasia |  | 17,265 | 19,106 | 19,579
Subtotal Assets by Operating Segments |  | 669,563 | 713,670 | 726,199
Corporate Center |  | 20,496 | 18,186 | 23,656
Total Assets BBVA Group |  | 690,059 | 731,856 | 749,855
The figures corresponding to 2016 and 2015 have been restated in order to allow homogenous comparisons due to changes in the scope of oper ating segments The attributable profit and main earning figures in the consolidated income statements for the years ended December 31, 2017, 2016 and 2015 by operating segments are as follows
Main Margins and Profits by Operating Segments (Millions of euros)
|  |  | Operating Segments |  |
|  | BBVA Group | Spain | Non Core Real Estate | United States | Mexico | Turkey | South America | Rest of Eurasia | Corporate Center | Adjustments (2)
2017 | Notes |  |  |  |  |  |  |  |  |  |
Net interest income |  | 17,758 | 3,738 | 71 | 2,158 | 5,437 | 3,331 | 3,200 | 180 | (357) | -
Gross income |  | 25,270 | 6,180 | (17) | 2,919 | 7,080 | 4,115 | 4,451 | 468 | 73 | -
Operating profit /(loss) before tax |  | 6,931 | 1,866 | (673) | 784 | 2,948 | 2,147 | 1,691 | 177 | (2,009) | -
Profit | 55.2 | 3,519 | 1,381 | (501) | 511 | 2,162 | 826 | 861 | 125 | (1,844) | -
2016 (1) |  |  |  |  |  |  |  |  |  |  |
Net interest income |  | 17,059 | 3,877 | 60 | 1,953 | 5,126 | 3,404 | 2,930 | 166 | (455) | -
Gross income |  | 24,653 | 6,416 | (6) | 2,706 | 6,766 | 4,257 | 4,054 | 491 | (31) | -
Operating profit /(loss) before tax |  | 6,392 | 1,268 | (743) | 612 | 2,678 | 1,906 | 1,552 | 203 | (1,084) | -
Profit | 55.2 | 3,475 | 905 | (595) | 459 | 1,980 | 599 | 771 | 151 | (794) | -
2015 (1) |  |  |  |  |  |  |  |  |  |  |
Net interest income |  | 16,022 | 4,015 | 71 | 1,811 | 5,387 | 2,194 | 3,202 | 176 | (432) | (404)
Gross income |  | 23,362 | 6,803 | (28) | 2,631 | 7,081 | 2,434 | 4,477 | 465 | (183) | (318)
Operating profit /(loss) before tax |  | 4,603 | 1,540 | (716) | 685 | 2,772 | 853 | 1,814 | 103 | (1,172) | (1,276)
Profit | 55.2 | 2,642 | 1,080 | (496) | 517 | 2,094 | 371 | 905 | 70 | (1,899) | -
The figures corresponding to 2016 and 2015 have been restated (see Note 1.3). Since the third quarter of 2015, BBVA has consolidated Garanti (39.9% owned as of December 31, 2015). In prior periods, Garanti's revenues and costs are reflected in the segment information only in the proportion of BBVA´s ownership (25.01%). This column includes adjustments resulting from the accounting of the investment in Garanti group using the equity method (versus reflecting the revenues and costs of Garanti only in proportion of BBVA´s ownership Garanti as sta ted in the management information). This column also includes inter-segment adjustments (see Note 2)

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